Kushner Companies seeks $150M for NJ project from Chinese investors

New York Weekend Edition /
May.May 07, 2017 11:17 AM

Journalists were barred this week from an event in Shanghai that sought Chinese investment in a luxury apartment complex in New Jersey being developed by KABR Group and the Kushner Companies.

The family of President Donald Trump’s son-in-law hopes to raise $150 million, or 15.4 percent of funding for the project, through the EB-5 visa program, according to Reuters. The program allows foreigners to in effect buy U.S. immigration visas by investing at least $500,000. The event was organized by immigration agency Qiaowai, according to marketing materials.

Kushner’s sister, Nicole Kushner Meyer, is said to have spoken for 10 minutes, mentioning her family’s humble roots. According to the New York Times, Meyer attended a similar event in Beijing on Saturday telling the audience of roughly 100 people the project, known as One Journal Square, “means a lot to me and my entire family.”

Sophie Xing, a potential investor, said a “very important” factor in her decision to attend Sunday’s event was that the project’s developer was Kushner Companies and that Trump’s son-in-law’s sister would be speaking, according to Reuters.

Qiaowai made note of Meyer’s relationship to Trump in promotional materials, referred to the project as “Kushner1” and describes the project as “supported by the government, created by a star developer,” according to Reuters. [Reuters | NYT] —Christopher Cameron

 

Related Articles

arrow_forward_ios
Centrale at 138 East 50th Street and Ceruzzi president Arthur Hooper (The Centrale NYC, Hooper via Sasha Maslov/Illustration by Kevin Rebong for The Real Deal)
Korean lender sues for $40M over Ceruzzi condo mezz loan
Korean lender sues for $40M over Ceruzzi condo mezz loan
Rendering of 6208 Eighth Avenue (Raymond Chan Architects)
Massive Sunset Park project flounders and an EB-5 investor sues
Massive Sunset Park project flounders and an EB-5 investor sues
Steve Witkoff and Ian Schrager in front of the iconic PUBLIC hotel escalators. (PUBLIC, Getty)
EB-5 fund alleges Schrager, Witkoff siphoned money from Public Hotel
EB-5 fund alleges Schrager, Witkoff siphoned money from Public Hotel
Canada, South Korea, Germany, Singapore, and the UK top the list of countries investing in real estate. (Getty)
South Korea now No. 2 foreign investor in US CRE
South Korea now No. 2 foreign investor in US CRE
China’s domestic housing sector was entering bubble territory last summer. (Getty)
Beijing may have slowed housing bubble — for now
Beijing may have slowed housing bubble — for now
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
(iStock)
China limits property loans to curb housing bubble
China limits property loans to curb housing bubble
Ivanka and Jared’s rumored Indian Creek Island purchase closes for $32M
Ivanka and Jared’s rumored Indian Creek Island purchase closes for $32M
Ivanka and Jared’s rumored Indian Creek Island purchase closes for $32M
arrow_forward_ios

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

Loading...