Kushners set to get US$400 million from Chinese firm in Manhattan office tower deal

Washington

A COMPANY owned by the family of Jared Kushner, President Donald Trump's son-in-law and senior adviser, stands to receive more than US$400 million from a prominent Chinese company that is investing in the Kushners' marquee Manhattan office tower at 666 Fifth Ave.

The planned US$4 billion transaction includes terms that some real estate experts consider unusually favourable for the Kushners. It provides them with both a sizable cash payout from Anbang Insurance Group for a property that has struggled financially and an equity stake in a new partnership.

The details of the agreement, which is being circulated to attract additional investors, were shared with Bloomberg. It would make business partners of Kushner Cos and Anbang, whose murky links to the Chinese power structure have raised national security concerns over …