Kushner Cos. He plans to raise $ 100 million by selling bonds in Israel

Kushner Cos. He presented the papers this month to the Israel Securities Authority and would sell the bonds on the Tel Aviv Stock Exchange. The company has raised other forms of capital in Israel in the past from both banks and equity partners.

“Kushner is studying the option of issuing bonds on the Tel Aviv Stock Exchange,” a company spokesman said. “The company has had years of success working with Israeli institutions as a borrower and as a partner.”

Israel’s bond market has become a growing source of capital for U.S. real estate companies, including Extell Development, Silverstein Properties Inc. and Starwood Capital Group.

Still, Kushner Cosus’s move is likely to rekindle criticism of possible conflicts of interest between Kushner’s role in the White House and his family’s business. Kushner, who is also President Trump’s son-in-law, has played a major role in advancing the administration’s Middle East agenda.

In addition, Trump this month pardoned Kushner’s father, Charles Kushner, who was sentenced in 2005 to two years in prison after pleading guilty to tax evasion and witness manipulation.

A White House spokesman declined to comment.

After joining the Trump administration, Kushner sold personal stakes in Kushner properties to family members to protect himself from conflict, but some critics say he did not go far enough.

Reports could not determine what role Kushner will play in the family business after Trump leaves office on Jan. 20.

Kushner Cos. the sale of bonds to Israel would likely occur in the first quarter of 2021. Kushner’s spokesman declined to say what the company would do with the revenue. Several real estate investors have begun storing cash in recent months in anticipation of a wave of distressed sales opportunities coming to market due to the Covid-19 pandemic.

It seems that Kushner Cos. He joins this effort. This month it has launched a portfolio of 10 Maryland apartment rental properties, with about 5,500 units. It could be worth up to $ 800 million.

The company has raised other forms of capital in Israel in the past, including loans from Bank Leumi and Bank Hapoalim,

as well as equity investments from companies such as Psagot Investment House and Harel Insurance Investments and Financial Services Ltd.

Kushner Cos. It has moved away from fundraising by sovereign investors since the early days of the Trump administration, when the family’s efforts to save their investment in the 666 Fifth Ave office tower. of New York City provoked a storm of criticism. At one point, Mr. Kushner was negotiating with the Chinese company Anbang Insurance Co., which had close ties with senior Chinese officials.

Mr Kushner’s talks with Anbang never resulted in an agreement. Kushner Cos. He eventually sold a long-term lease of 666 Fifth Ave. and Brookfield Asset Management.

Write to Peter Grant to [email protected]