Kushners Hunting Hard for a Loan to Pay Back Chinese Investors

[DonViejo]

Source: Bloomberg



by Sarah Mulholland and Caleb Melby
June 5, 2017, 5:00 AM EDT

The Kushner family real estate company is seeking a $250 million loan to pay back Chinese investors in a New Jersey luxury tower but finding some major U.S. banks wary of the controversies around its White House links and the visa program used to attract the investors.

Kushner Cos. is sending out feelers for the loan against its 50-story Trump Bay Street in Jersey City. It would keep $50 million and use the rest to repay the investors and pay off a mortgage on the building, according to a person familiar with the negotiations who asked not to be identified because the talks are private.

The company, which belongs to the family of Jared Kushner, President Donald Trump’s son-in-law and senior adviser, funded about a quarter of the $194-million development through the EB-5 visa program that grants wealthy foreigners green cards in exchange for investing in U.S. projects.

Some large U.S. banks are shying away from the transaction because of the property’s connection to Kushner and the visa program, the person said. Unregulated lenders and non-U.S. banks will probably step into the breach. A Kushner Cos. spokesman declined to comment.

Read more: https://www.bloomberg.com/politics/articles/2017-06-05/kushners-hunting-hard-for-a-loan-to-pay-back-chinese-investors

[bettyellen]

1. I hope it bankrupts him.

[greatauntoftriplets]

3. + 1,000

Financially since he's already morally bankrupt.

[ATL Ebony]

16. True dat, the whole lot of them are morally bankrupt.

I'm getting the warm & fuzzies just knowing he's about to get his comeuppance.

[Bernardo de La Paz]

22. I read one story that valued his net worth under $800 M & another said his debt over 1,500 M.

I don't know if the "net worth" included all that debt. Perhaps some but not all. He might be getting very close to insolvent.

[ck4829]

2. Training Day is supposed to be a movie, not a guide on how to run the govt

[Scarsdale]

7. He will be

in prison before too long, for TREASON. Who will repay the loan then? Could not happen to a more deserving family. Poor first lady Ivanka. She may not be able to afford those champagne popsickles once Jared is behind bars. No more massages, or Botox, either.Here is a horrible thought, she might have to raise her kids without nannies! The HORROR! Maybe she will be forced to read "her" book of advice for working mothers.

[jmowreader]

13. Don't be like that

I figure poor Ivanka is up to her thousand-dollar eyeshadow in this. If Jared goes to the pokey, Ivanka, her daddy and his estranged wife are sure to follow.

[bmbmd]

4. Wait a minute-

they're gonna keep fifty million? Not sure I'm seeing that.

[forgotmylogin]

9. I thought that too.

Why would you need spendin' cash if you need to repay a big loan? They must have no natural cash flow, so just need a mere 50 mil to keep Ivanka's baby in Swarovski crystal-studded onesies and champagne popsicles and Grandma's caviar truffle butt cream.

[BumRushDaShow]

5. "Unregulated lenders"

The mob?

[Jakes Progress]

8. russian oligarchs

[meow2u3]

11. The Russian mob

Russian oligarchs = Russian mob = Putin.

[BumRushDaShow]

12. This exactly.

[rickford66]

6. So a Chinese investor gets a visa ...

and then gets his investment back just like that ? Doesn't the investment have to be held for a number of years?

[TeamPooka]

10. If he gets his father in law to resign I'll get his loan crowdfunded in two days.

[ATL Ebony]

17. oooh, oooh, I'll pitch in for that.

[tazkcmo]

21. omg +1 gazillion

Thank you so much for the laugh!!!

[TeamPooka]

30. :)

[Achilleaze]

14. republicans and their fast-buck laundry operations

[Sugar Smack]

15. This sort of news is making me think more frequently, about how many people in the US

can't afford to even EAT!! Can't afford to EAT.

[not fooled]

18. Karma, baby

although the thought of these grifter rats being cornered is at once satisfying and scary.

Jarhead--thought he was making his mark on the NY real estate world by buying the aptly numbered 666 building. Instead he gets shafted by buying at the peak of the market.

[calimary]

19. Isn't he having funding trouble with that building as well?

666 Fifth Avenue? Supposedly mortgaged to the hilt - what did I hear? 1.2 Billion dollars' worth, that comes due in two years? And the Kushner folks are underwater on that, too?

Brings me back to this:

http://www.reuters.com/article/us-usa-trump-fbi-kushner-exclusive-idUSKBN18N018

Seventh paragraph from the bottom:

FBI investigators are examining whether Russians suggested to Kushner or other Trump aides that relaxing economic sanctions would allow Russian banks to offer financing to people with ties to Trump, said the current U.S. law enforcement official.

And one of those sneaky-ass "back channel" efforts Jared tried in early December (long before his father-in-law's inauguration), as I understand it, was with a Russian bank currently hamstrung by sanctions imposed earlier by the US.

I know what that paragraph tells me. It tells me it could be a smoking gun.

[flibbitygiblets]

28. Exactly what I was thinking

Remember that Showtime series "The Riches", about a family of gypsies who pretended to be wealthy and educated, but were actually conning everyone in town? They brazenly took everything they could get their hands on before finally being found out and flying the coop.

When Conald Grump's tax returns finally get released (I'm betting via yet another leak), all his rube supporters will find out they fell for the biggest scam of all time.

[keithbvadu2]

20. How about putting up 1600 Penns... Ave as collateral? Or has that equity already been sold?

[magicarpet]

23. Putin now holds the deed to the White House.....

..... would not put it past tr-dump to do this. Frightening and funny what America has become.

[Ilsa]

24. Now why is Kushner Cos. keeping $50 mil off the top?

Why would anyone loan $250m for a $194m project, if that is still its value? Has it appreciated that much? I don't think American nbanks lend 125% of value.

[keithbvadu2]

25. Sometimes they do... It can be called bank fraud

[UpInArms]

26. Sounds like a ponzi scheme

Keep $50 million .... pay off earlier investors ... let new ones hang from a short rope ... with collateral tied to a sinking ship

[turbinetree]

27. This is a very good article on this "stuff" from Mother Jones

http://www.motherjones.com/politics/2017/05/hedge-city-vancouver-chinese-foreign-capital

[JI7]

29. why doesn't Trump help pay it off with his 10s of billions ? HAHAHAH

[olddad56]

31. Uncle Vladimir will bail him out.

[Mz Pip]

32. The Russian Mafia

might be willing to help.