Jared Kushner’s family-owned real estate business has reportedly secured a hefty loan to construct a luxury residential tower in Brooklyn, New York, despite a recent debate over a White House investigation into previous loans to his company.
JPMorgan Chase & Co. has agreed to loan about $600 million to an investor group that includes Kushner Companies, the Los Angeles–based private investment firm CIM Group and LIVWRK, a developer that has worked with Kushner’s company various times in the past, people with knowledge of the deal told Bloomberg in a report published Friday.
Kushner Companies and the group sought out the investment in October, and the lender has agreed to the terms pending underwriting approvals, the sources told Bloomberg. The project at 85 Jay Street in Brooklyn’s Dumbo neighborhood will have 21 floors and 737 apartments, according to plans unveiled in August.
The loan arrives as Kushner, President Donald Trump’s son-in-law, comes under scrutiny for loans Kushner Companies received after he met with lenders in his official capacity as a senior White House adviser. In a letter last month, the Office of Government Ethics informed Representative Raja Krishnamoorthi of the House Committee on Oversight and Government Reform that the White House had begun a probe into more than $500 million in loans that Citigroup and Apollo Management Group reportedly made to Kushner Companies after executives met with Kushner.
White House Press Secretary Sarah Huckabee Sanders denied the account, stating that White House attorneys were “not probing whether Jared Kushner violated the law.” Kushner’s lawyer Abbe Lowell previously told Newsweek in an email that “the White House counsel concluded there was were no issues involving Jared.” Kushner Companies spokeswoman Chris Taylor referenced Sanders’s comment that “they weren’t investigating.”
Here’s my statement in reaction to the White House’s assertion that the White House counsel’s office is not investigating whether Senior Advisor Jared Kushner violated the law https://bit.ly/2GgwDHV
Congressman Krishnamoorthi Calls On White House Counsel McGahn To Respond To Sanders Claim That Kushner Not Under Investigation For Breaking Ethics Laws
SCHAUMBURG, IL — Congressman Raja Krishnamoorthi of the Oversight Committee released the following statement in response to the White House’s assertion that the White House counsel’s office is not investigating whether Senior Advisor Jared Kushner violated the law:
“Given the egregious nature of the allegations against Mr. Kushner and the assurance that the Office of Government Ethics received that the White House is investigating his conduct, I was baffled to hear Press Secretary Sanders claim that the White House ‘is not probing whether Jared Kushner violated the law.’ White House Counsel Don McGahn must make clear to the public whether (a) Ms. Sanders was speaking truthfully and accurately, (b) whether a probe or investigation is currently underway regarding potential violations of the ethical code or ethical regulations (as opposed to laws), (c) whether an ethics probe has already been completed since last week, or (d) if the White House Counsel’s office knowingly or unknowingly misled the Office of Government Ethics.
If a review of Mr. Kushner’s ethics issues was completed by the White House Counsel, it must be released, and if it hasn’t been, those in the White House who have provided inaccurate information regarding the investigation must answer for it.”