Kushner Cos. gets $800M federally backed apartment loan
(Bloomberg) — Kushner Cos., the real estate firm owned by the family of President Donald Trump’s son-in-law Jared Kushner, has received about $800 million in federally backed debt to buy apartments in Maryland and Virginia — the company’s biggest purchase in a decade.
The loan was issued by Berkadia, a lender co-owned by Warren Buffett’s Berkshire Hathaway Inc. and Jefferies Financial Group Inc., in a deal that’s backed by government-owned Freddie Mac, according to a person familiar with the matter who asked not to be named discussing the private transaction.
The arrangement increases the government’s exposure to Kushner Cos. at the same time that its former chief executive officer is one of the most powerful people in the White House. Jared Kushner divested ownership in many of the company’s assets to close family members when he joined the government. Kushner Cos. had more than $500 million in loans from Fannie and Freddie at that time.
Spokespeople for Kushner Cos., Berkadia and Freddie Mac didn’t respond to requests for comment. Peter Mirijanian, a spokesman for Jared Kushner’s attorney Abbe Lowell, has frequently said that Kushner has no involvement in the company’s management.
Read more: https://www.philly.com/politics/nation/kushner-companies-gets-eight-hundred-million-dollar-federally-backed-apartment-loan-20190523.html
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nothing to see here!
I'm sometimes amazed at what stories manage to sneak by with very little attention. It makes the efforts I make to report the state news seem a little bit more valuable. 
