Report: Kushner family firm pays $1.1B for 6,000 apartments
NEW YORK (AP) - The real estate firm run by White House adviser Jared Kushner's family has pulled off its biggest deal in more than a decade.
The Wall Street Journal reported Friday that Kushner Cos. paid $1.1 billion for a portfolio of about 6,000 apartments in Maryland and Virginia that had been owned by Lone Star Funds.
It marks Kushner Cos most expensive purchase since paying $1.8 billion for a Manhattan skyscraper in 2007.
The debt taken on in that purchase strained Kushner Cos.' finances until last year when it sold the building to Brookfield Asset Management.
Kushner Cos.' dealings have been drawing more scrutiny because of its connections to Jared Kushner, who is President Donald Trump's son-in-law as well as a senior adviser.
Kushner Cos. didn't respond to a request for comment.
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