Kushner Companies

Overview

Kushner Companies is a privately held real-estate group founded by Charles Kushner in 1985. It grew from a New Jersey apartment-development and ownership business into a multistate property group with multifamily, office, retail and redevelopment interests. The corporate name has encompassed separate property partnerships and affiliated legal entities, rather than a single building or personal bank account. ^{[2] [3]}

Founding and growth

Charles described building on the construction and apartment business of his father Joseph Kushner. The company's timeline reports development and acquisition of more than 21,000 homes by 2006, and a 2007 sale of approximately 17,500 residences for $2 billion. It later opened a Manhattan headquarters, developed office and retail interests, and expanded its multifamily portfolio into the Sunbelt. These are company-reported portfolio milestones rather than a calculation of the founder's personal wealth. ^{[2] [3]}

Charles and Jared Kushner

After Charles's federal prosecution, his son Jared Kushner became a principal executive at Kushner Companies. He later left company management to join the Trump White House in 2017 and reported divestitures of certain interests. Family relationships and historical corporate positions must be dated: Jared's later diplomatic role does not make Kushner Companies a government agency. ^{[19] [20]}

666 Fifth Avenue and Brookfield

With Jared leading the company, Kushner Companies acquired 666 Fifth Avenue in 2007 for roughly $1.8 billion. Charles said he pushed Jared to do the deal. The 2008 property downturn and subsequent refinancing difficulties brought scrutiny to the project. In August 2018, Brookfield acquired a 99-year leasehold in the office portion; the lease is not evidence of a direct payment to an individual family member. ^{[3] [10] [20]}

A Senate Finance Committee inquiry later asked about reported financing discussions with Qatari officials and potential conflicts involving Jared's White House service. An inquiry is not a finding that a particular foreign government bought a policy decision. ^[11]

Related entities and individuals

• Charles Kushner — founder, 1985; historically a senior executive.
• Jared Kushner — son of founder and later company executive, prior to White House service.
• Seryl & Charles Kushner Family Foundation — separately constituted family charity, not identical to the real-estate business.
• Affinity Partners — a different, later investment-management firm founded by Jared; not a rebranding of Kushner Companies.

Sources

1. Kushner Companies, company historyCompany's own chronology, 1985 founding, real-estate portfolio and subsequent development.
2. Charles Kushner, Washington Post first-person essay, March 20, 2019Attributed account of father Joseph, early business development and Fifth Avenue transaction.
3. Reuters, Brookfield Fifth Avenue lease, August 3, 201899-year lease and distinction between office building ownership and leasehold.
4. U.S. Senate Finance Committee, Wyden and Castro investigation statementCongressional concerns and questions regarding Kushner business, Qatar financing and possible conflicts; not findings of wrongdoing.
5. The New Yorker, reporting on Charles, Jared and Kushner Companies, August 2016Independent account of family and corporate background.
6. CNN interview with Charles Kushner, April 2018Charles's account of encouraging Jared's 666 Fifth Avenue deal.