Jared Kushner's Family Just Got an $800 Million Loan from the Federal Government and People are Calling Foul
When President Donald Trump's eldest daughter with ex-wife Ivana, Ivanka Trump, picked her husband, she did not stray far from her roots. The Kushner family—like the Trumps—made their fortune in housing real estate.
Both families also dealt with scandals related to their business dealings. While the Trumps were cited—and lost—in cases involving housing discrimination, the Kushner family patriarch went to prison.
Kushner Companies incurred massive debt purchasing a Manhattan office building in 2007. They also sold most of their apartment complexes in New Jersey to finance the $1.8 billion purchase.
But Kushner Companies is returning to buying apartments with a purchase of 6,030 units in Virginia and Maryland, which happens to be the area where Jared Kushner relocated to work at the White House.
The latest Kushner real estate deal is a $1.15 billion deal. And most of it—$800 million—is going to be backed by the federal government.
And that fact has people crying foul.
Kushner Cos., the real estate firm owned by the family of President Donald Trump’s son-in-law Jared Kushner, has re… https://t.co/RvFk3cwiph— Citizens for Ethics (@Citizens for Ethics)1558989009.0
@waltshaub @jenpiotti Because they say: "Wherefore when the President, Putin, his family & current personal benefac… https://t.co/WPGnMhzHmv— 🐉Kate a eu jusqu'à ici avec cette merde (@🐉Kate a eu jusqu'à ici avec cette merde)1558715660.0
@waltshaub The mission of all trump clones: to decimate & destroy every aspect of american government from the exec… https://t.co/gIjPXAUcU9— Mary-Therese Currie (@Mary-Therese Currie)1558710519.0
@CREWcrew There is no end to the corruption in this admin. They're all just out to enrich themselves— Lorie (@Lorie)1558989816.0
And people are asking whether such actions would be tolerated from other administrations.
This alone would be the end any previous presidential administration. https://t.co/DlFtv7JVw6— __LDK__ (@__LDK__)1558733145.0
It's all good. I'm sure republicans would be perfectly ok if Chelsea Clinton had lied about millions in foreign loa… https://t.co/Y0aT5voI9k— Alt Fed Employee (@Alt Fed Employee)1519775175.0
WOLF BLITZER: Congressman, are you worried about Jared Kushner's meetings with companies who then gave his family b… https://t.co/X5gdKW6m13— Aaron Rupar (@Aaron Rupar)1520017600.0
Isn’t it just priceless that conservatives were worried about nepotism & the Clintons cutting deals with foreign go… https://t.co/EuQ1okvUTY— Ashley Pratte (@Ashley Pratte)1520608984.0
And people are following the money trail.
Kushner Cos gets $800 million federally backed apartment loan from Berkadia, a lender co-owned by Warren Buffett’s… https://t.co/kQDhS4vXto— Wendy Siegelman (@Wendy Siegelman)1558707602.0
Kushner Cos is working on developing a $550mil apt project in a Miami Opportunity Zone & has bought multiple proper… https://t.co/9Z2uQYK2uQ— Wendy Siegelman (@Wendy Siegelman)1558708509.0
@LouT27 @RageMadMaz @Vickie627 @DKeycock @Bootz_Adams @franjerkington @RudyKazutti @GPoopon @LizzyHock1963… https://t.co/ti5OUbAg1s— Michele🧂🌮🍷 (@Michele🧂🌮🍷)1558369621.0
The spokesperson for Kushner's lawyer stated in February—when the then proposed deal first made headlines and raised eyebrows:
"As part of an ethics agreement he has and has followed, Mr. Kushner has had no role in the Kushner Companies or its activities since joining the government over two years ago."
“He is walled off from any business or investment decisions and has no idea or knowledge of these activities."
Now that the deal and federal loan backing are official, the White House and Kushner have yet to comment.