Kushner plans to lend $200M annually to developers

“We like the opportunity": Laurent Morali

New York /
Nov.November 30, 2016 09:00 AM

Jared Kushner’s Kushner Companies plans to lend $200 million annually to developers over the next five years, according to its president Laurent Morali.

“We like the opportunity to deploy our capital in a different place in the capital stack,” Morali said, according to the New York Post.

The Real Deal first reported in May that Kushner Companies TRData LogoTINY had quietly launched a lending arm, and bought the mezzanine debt on JDS Development and the Chetrit Group’s 9 Dekalb Avenue. According to an offering email reviewed by TRD at the time, the firm plans to issue preferred equity, mezzanine debt and senior debt ranging from $20 million to $500 million.

On Monday, TRD reported that Kushner Credit Opportunity Fund is backing Toby Moskovits’ Bushwick mixed-use project 215 Moore Street with a $33 million loan.

Kushner Companies is one of several real estate development firms that have launched lending arms over the past year, in an effort to fill the void left by more cautious banks.

“As a lender, we will look at the sponsor and the borrower and if it’s the type of project we could have done as an owner in a great area, it gives us more optionality,” Morali said.

Morali was tapped as Kushner Companies’ president in June.  [NYP]Konrad Putzier


Related Articles

arrow_forward_ios
Charlie Kushner, Laurent Morali, Nicole Kushner with Monmouth Mall (Google Maps, Sasha Maslov, Getty)
Kushners fend off rival developers for NJ mall
Kushners fend off rival developers for NJ mall
Laurent Morali and renderings of the project (Kushner Companies)
Kushner Companies wins approval for four-tower mixed-use project in downtown Fort Lauderdale
Kushner Companies wins approval for four-tower mixed-use project in downtown Fort Lauderdale
Kushner Companies Violated Multiple Laws in Massive Tenant Dispute, Judge Rules
Kushner Companies violated multiple laws in massive tenant dispute, judge rules
Kushner Companies violated multiple laws in massive tenant dispute, judge rules
Kushner's Laurent Morali and one of the apartment complexes (Google Maps)
Kushner Companies sells two Maryland apartment complexes for $240M
Kushner Companies sells two Maryland apartment complexes for $240M
285 Lafayette Street (Kushner, HypeClub, iStock)
Sneaker hub HypeClub to open brick-and-mortar location in SoHo
Sneaker hub HypeClub to open brick-and-mortar location in SoHo
Gustavo Miculitzki, Laurent Morali and Charles Kushner with a rendering of their Wynwood project
Kushner starts construction on first South Florida development, scores $80M loan
Kushner starts construction on first South Florida development, scores $80M loan
Donald Trump and Rosemary Vrablic (Getty/Illustration by Kevin Rebong for The Real Deal)
Real estate deal prompted resignation of Trump’s longtime banker
Real estate deal prompted resignation of Trump’s longtime banker
Jared Kushner and Ivanka Trump with Arte Surfside (Getty, Arte)
Ivanka Trump, Jared Kushner to rent luxury condo in Miami’s Surfside
Ivanka Trump, Jared Kushner to rent luxury condo in Miami’s Surfside
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...