FOREIGN FUNDS

Report: Kushners and Qatari-Linked Company Near Deal for NYC Tower

The real estate company owned by White House advisor Jared Kushner’s family is close to “receiving a bailout” for their troubled 666 Fifth Avenue tower in New York City from a company with ties to the Qatari government, according to The New York Times. Jared’s father, Charles Kushner, is reportedly in “advanced talks” with Brookfield Properties—a Canadian company whose second-largest shareholder is the Qatar Investment Authority—over “a partnership to take control” of the property. The Kushners bought the building 11 years ago for $1.8 billion, a record in New York City, but it now only generates “about half its annual mortgage payment.” Although Jared Kushner has divested from the family business, his work in the White House focuses on the Middle East, and he reportedly lost his high-level security clearance because of concerns that another nation could “gain influence with the White House by doing business with the Kushner Companies.”