Jared Kushner Company Secures $600 Million Loan Amid White House Probe Into Business Deals, Report Claims

Jared Kushner’s family-owned real estate business has reportedly secured a hefty loan to construct a luxury residential tower in Brooklyn, New York, despite a recent debate over a White House investigation into previous loans to his company.

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JPMorgan Chase & Co. has agreed to loan about $600 million to an investor group that includes Kushner Companies, the Los Angeles–based private investment firm CIM Group and LIVWRK, a developer that has worked with Kushner’s company various times in the past, people with knowledge of the deal told Bloomberg in a report published Friday.

Kushner Companies and the group sought out the investment in October, and the lender has agreed to the terms pending underwriting approvals, the sources told Bloomberg. The project at 85 Jay Street in Brooklyn’s Dumbo neighborhood will have 21 floors and 737 apartments, according to plans unveiled in August.

The loan arrives as Kushner, President Donald Trump’s son-in-law, comes under scrutiny for loans Kushner Companies received after he met with lenders in his official capacity as a senior White House adviser. In a letter last month, the Office of Government Ethics informed Representative Raja Krishnamoorthi of the House Committee on Oversight and Government Reform that the White House had begun a probe into more than $500 million in loans that Citigroup and Apollo Management Group reportedly made to Kushner Companies after executives met with Kushner.

White House Press Secretary Sarah Huckabee Sanders denied the account, stating that White House attorneys were “not probing whether Jared Kushner violated the law.” Kushner’s lawyer Abbe Lowell previously told Newsweek in an email that “the White House counsel concluded there was were no issues involving Jared.” Kushner Companies spokeswoman Chris Taylor referenced Sanders’s comment that “they weren’t investigating.”

Taylor, JPMorgan Chase & Co., CIM Group and LIVWRK could not immediately be reached for comment by Newsweek on Friday.