Kushner Cos secures US$57m loan for troubled New Jersey towers
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New York
KUSHNER Cos, the real estate company owned by Jared Kushner's family, secured a US$57 million loan from Fortress Investment Group for a troubled two-tower development in New Jersey.
The loan is likely to be only a small piece of what would be needed to complete the project. Filings to the the New Jersey Economic Development Authority in 2015, for an earlier iteration of the towers, anticipated US$124 million of debt, US$10 million in publicly funded redevelopment bonds and US$71 million of equity.
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