- The Kushner Companies announced it was repurchasing Quail Ridge Apartments in Plainsboro after selling it 11 years ago
- It reportedly paid $190 million for the New Jersey apartments it sold 11 years ago to finance a $1.8 billion Manhattan office building
- White House senior adviser Jared Kushner stepped down from his role as CEO for his government job
The real estate company owned by Jared Kushner’s family repurchased a 1,032-unit complex near Princeton, New Jersey.
The Kushner Companies says it’s paying $190 million for Quail Ridge Apartments in Plainsboro, New Jersey. The deal was finalized on September 14, the company said in a statement to Bloomberg.
Its spokesman did not disclose if it was borrowing money or if there are other investors.
The purchase follows a deal for a 5,517-unit complex in Maryland earlier this year.
White House Senior Adviser Jared Kushner used to be the CEO of Kushner Companies which recently purchased Quail Ridge Apartments for $190 million
Kushner stepped down from the company and divested his holdings to relatives when he took the White House job
President Donald Trump’s son-in-law Jared Kushner, 36, stepped down as CEO of the Kushner Companies in January before becoming a senior adviser to the president. He divested his holdings to relatives.
The company owns more than 20,000 garden apartments in several states.
The Kushner Cos. says it has struck more than $2 billion in deals in two years.
Quail Ridge is being sold by Angelo, Gordon & Co. The complex used to be owned by Kushner Cos. 11 years ago. It was sold in 2007 to finance a $1.8 billion Fifth Avenue Manhattan office tower.
In May, the company stirred controversy when it was in talks with a Chinese insurer with ties to the communist government to get funds for its 666 Fifth Avenue tower.
The Kushner Cos. was set to receive $400 million from China’s Anbang Insurance.
According to ABC, those talks were cut short after complaints from lawmakers who believed the deal was an attempt from Anbang to gain favor from the White House.