Kushner’s New Jersey Trump Tower Got $200 Million Loan From Citigroup
- Company had trouble finding financing for building last summer
- Construction loan for property came due in September
Jared Kushner’s Rise to Power Mirrors Trump's
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Trump Bay Street, a New Jersey luxury apartment tower part-owned by Kushner Cos., received a $200 million loan from Citigroup, according to two people familiar with the deal.
It’s a coup for Kushner Cos. and their partner KABR Group, which need the funds to repay a construction loan that came due in September, as well as individual Chinese investors who put $50 million in the building through a visa-for-investment program. The companies had trouble finding lenders last year after Jared Kushner’s sister traveled to China, Bloomberg reported at the time.