Kushner plans to lend $200M annually to developers

“We like the opportunity": Laurent Morali

TRD 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
229 West 43rd Street and Charlie Kushner (Google Maps, Getty)

Kushner Companies’ Times Square retail condo headed to auction

Kushner Companies’ Times Square retail condo headed to auction
666 Fifth Avenue and Brian Kingston (Google Maps, Brookfield)

Brookfield buys out another tenant at 666 Fifth

Brookfield buys out another tenant at 666 Fifth
Photo illustration of Kusher Companies President Laurent Morali, Charles Kushner and the GM Building (Credit: Sasha Maslov, iStock, Trump Organization)

Kushner Companies moving from 666 Fifth to GM Building

Kushner Companies moving from 666 Fifth to GM Building
Douglas Eisenberg, Stephen Ross, Isaac Kassirer and Charles Kushner (Credit: Kushner by Sasha Maslov, Ross by Sean Zanni/Patrick McMullan via Getty Images)

Rent strike targets landlords who can “take the hit”

Rent strike targets landlords who can “take the hit”
Charlie Kushner and WeWork CEO Sandeep Mathrani with Dumbo Heights (Credit: Kushner via Sasha Maslov; Getty Images; Dumbo Heights)

For Kushner Cos., WeWork could be a problem at Dumbo Heights

For Kushner Cos., WeWork could be a problem at Dumbo Heights
Charlie Kushner and Harbor Point Estate in Maryland (Credit: Sasha Maslov; Harbor Point Estates)

Kushner Cos. pushes ahead with eviction lawsuits: report

Kushner Cos. pushes ahead with eviction lawsuits: report
Charles Kushner and 331 East 9th Street (Credit: Kusner Photo by Ilir Bajraktari/Patrick McMullan via Getty Images; Google Maps)

Judge grants Kushner tenants free rent at East Village complex

Judge grants Kushner tenants free rent at East Village complex
Charles and Jared Kushner and 229 West 43rd Street (Credit: Getty Images and Google Maps) 

Pandemic may finally push Kushner Cos’ Times Square retail space into default

Pandemic may finally push Kushner Cos’ Times Square retail space into default
arrow_forward_ios

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

Loading...