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
Charles Kushner and 18 Sidney Place (18 Sidney Place via StreetEasy)

Tenants get class-action status against Kushner in Brooklyn rent case

Tenants get class-action status against Kushner in Brooklyn rent case
Kushner Cos to sell Chicago office tower at sharp discount

Kushner Cos to sell Chicago office tower at sharp discount

Kushner Cos to sell Chicago office tower at sharp discount
Charles Kushner and 229 West 43rd Street (Getty, Google Maps)

Kushner Companies no longer delinquent on Times Square loans

Kushner Companies no longer delinquent on Times Square loans
Charles Kushner and 229 West 43rd Street (Getty, Google Maps)

Appraisal cuts Kushner Companies’ Times Square retail value 80%

Appraisal cuts Kushner Companies’ Times Square retail value 80%
Kushner Companies ends legal battle, resumes Jersey City project

Kushner Companies ends legal battle, resumes Jersey City project

Kushner Companies ends legal battle, resumes Jersey City project
Charles Kushner and 329-335 East 9th Street (Google Maps, iStock)

Kushner Cos hit with class-action suit over illegal rent collection

Kushner Cos hit with class-action suit over illegal rent collection
Jared Kushner and Cadre CEO Ryan Williams (Getty, iStock)

Jared Kushner’s plan to unload Cadre stake shelved by pandemic

Jared Kushner’s plan to unload Cadre stake shelved by pandemic
Extell Development president Gary Barnett and Kushner Companies founder Charles Kushner with a rendering The Lofts at Pier Village in New Jersey (Rendering via Extell Development)

Kushner Cos. buys Gary Barnett out of development on NJ waterfront

Kushner Cos. buys Gary Barnett out of development on NJ waterfront
arrow_forward_ios

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

Loading...