Kushner Companies Seeking $250 Million to Pay Off Chinese Backers -<br />By JESSE DRUCKER and CHARLES V. BAGLIJUNE 5, 2017<br />The real estate company owned by the family of Jared Kushner, son-in-law<br />and senior adviser to President Trump, is seeking $250 million to pay off its partners and lenders in a Jersey City apartment tower financed by Chinese investors through a program criticized as offering United States visas for sale.<br />His stake in various Kushner family projects, with some other investments, could exceed $600 million,<br />according to the government ethics filing, which lists a trust that owns a company called 65 Bay L.<br />But he has retained economic interests in most of the company’s projects, including the<br />Jersey City building, at 65 Bay Street, according to his government ethics disclosure.<br />The family business, Kushner Companies, spent about $225 million to build the luxury high-rise building, called Trump Bay Street.<br />On projects like the one in Jersey City, longer-term financing — with lower interest rates — is typically<br />not available until the building reaches at least 50 percent occupancy, which this building now has<br />In preparation for his role as a White House adviser, Jared Kushner divested some of his stakes in the family business and other investments.
