Posted on 02/24/2017 7:12:01 PM PST by imardmd1
Investor’s family fund issued $250M credit line: sources
George Soros’ Soros Fund Management has quietly been financing the Kushner-backed real estate finance startup Cadre with a substantial credit line, according to sources familiar with the matter.
A source familiar with the financing arrangement told The Real Deal that "Soros has had a long and productive relationship with the Kushner family." Another source told TRD that Kushner Companies TRData LogoTINY president Laurent Morali played a key role arranging the financing, but a Kushner Companies spokesperson disputed that account, claiming that "Kushner Cos. has never been involved in Cadre in any capacity."
Business Insider first reported the existence of $250 million credit line in June, but didn’t mention its source.
Cadre, founded by brothers Jared and Joshua Kushner and Blackstone alum Ryan Williams in early 2015, is an online investment platform that connects institutions with real estate deals in major markets like New York. Cadre generally invests in deals using the credit line before making them available to investors online.
It’s unclear what Cadre’s current valuation is. According to Pitchbook, which tracks venture funding, Cadre was valued at $99.9 million following its $18.3 million Series A round in late 2015. In January of last year, the company raised $50 million in a Series B funding round, bringing the total investment in the firm to more than $68 million. But it’s since been reincorporated as a Delaware-based entity, RealCadre LLC. It’s also unclear what deals they’ve sourced since being funded in 2015. Williams declined to name any deals the firm closed when TRD spoke to him in July, saying only that Cadre had closed over $200 million in deals in the first half of 2016.
Jared Kushner recently joined the White House as an adviser to his father-in-law Donald Trump. Politico reported that he plans to sell his stakes in 35 companies to avoid conflicts of interest.
The irony of the Soros-Kushner connection is that Donald Trump’s presidential campaign, which Jared Kushner helped orchestrate, vilified George Soros. A November campaign video showed Soros’ face while Trump’s voice sounded off on “global special interests” who “don’t have your good in mind.” The video was criticized by many for playing on anti-Semitic conspiracy theories targeting Soros, a wealthy former hedge fund manager who has long backed liberal causes around the globe.
Soros vocally opposes Trump. "I have described him as an impostor and a con man and a would-be dictator," Soros told Bloomberg last week. "But he’s only a would-be dictator because I’m confident that the Constitution and the institutions of the United States are strong enough." He donated $10.5 million to Hillary Clinton during the 2016 presidential campaign, according to Center for Responsive Politics data cited by CNBC.
why O why is SorozNazi still allowed to walk freely
Jared and Joshua are brothers. Who is the uncle that owns Kushner Companies? Who is "Harper" and what is his relationship to Jared? Who is "Murray Kushner" and what is his relationship to Jared? What is the business of the KRE Group?
I'm guessing that you know the answers to these questions.
Kushner, Ivanka Trump Pushed to Remove Words Critical of Climate Deal From Executive Order
http://www.freerepublic.com/focus/f-chat/3528548/posts
Before everyone goes off on this story, please consider the nature of the real estate investment world of today.
First...a $250 million line of credit is child’s play..
I live in St. Pete Beach and a new development has just been announced down the street for $290 million and it’s so small that if you dropped this development in NYC you wouldn’t be able to find it let alone see it.
Second...RE inv money is like the worldwide oil market...the buyer may not know (or care) where the product comes from. Same in this case...Soros money is everywhere, meaning you can’t develope a large RE INV business without running into it.
These types of deals take years to mature...it’s not the kind of thing you can turn off like a spigot...and if they were to turn down money or cancel deals, their business, for all intense purposes, would be blackballed to future access.
So, it’s not pretty, but this is just a hit piece...get used to it because you will see hundreds more articles like this over the next 4 years.
Bookmark Kushner
Ivanka is no Margaret Thatcher. Like a lot of liberals her emotions alone tend to guide her politics and the intellect then implements the policy. The conservative is different. The mind should be used at all times to guide the emotions.
I won’t deny that I have a big crush on Ivanka, but I recognize that she is the President’s Achilles Heel. He trusts her implicitly, in spite of her very liberal philosophy.
Interesting article... and a little scary, given Jared’s circle of liberal friends.
I sure hope President Trump listens more to Bannon and Conway.
Doing business globally I don’t think anyone can avoid dealing with some undesirables. But that is not the point.
The ‘power couple’ seem to only have their pet liberal projects in mind, and are not shy about aggressively pursuing them.
It’s troubling that they not only have the President’s ear, but his heart and emotions as well. That is NOT a prescription for returning the USA to the land of the free; the home of the brave.
There are very good reasons why nepotism is discouraged, even prohibited, in many organizations.
Yep.
All news is generated from no-named SOURCES and not actual facts or direct quotes from the individuals the story is about
It is all a never-ending load of bullchit
This article by a rabid lefty doesn’t really say much. The Kushner boys plus the Blackstone kid, use their finger on the pulse to rummage through NYC real estate deals before institutional investors. That’s gone on since time immemorial. Sometimes they want to tie up the property while they figure out how to middle it to the institutionals. They have a revolving line of credit. Perhaps some Soros entity out there, the article certainly doesn’t say anything about it, has a piece of that revolver. Big friggin’ deal! Here’s the rabid lefty author’s twitter feed:
https://twitter.com/KonradPutzier?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
We don’t march; instead, we work.
Is it at all possible the money credit line was taken to stroke Soros’ ego while still being against Soros?
“Ivanka of course could hardly be a more leftist influence on the Trump administration”
And you have proof of this of course? Put up or shut up. I am sick of false news and innuendo. If you can’t present something factually the don’t post.
Murray Kushner is Jared’s uncle, the one that owns the KRE group. Jared’s father is Charles. Charles and Murray used to do business together, but had a falling out. Jared’s and his brother’s business is separate from Murray’s. Murray is more into real estate, with Jared and his brother being into investments.
All I was saying is the TWO family businesses are very separate and the author may have either accidently, or on purpose, combined two distinct Kushner family enterprises. Soros may have LOANED to one and not the other. It is not a gift. Jared’s dad went to prison for some white collar crime and Charles accused his brother, Murray, of turning him in.
“Harper” is my stupid autocorrect telling me “Jared” is NOT a name.
What I was awkwardly trying to say earlier. Gossip. Made-up nonsense to mess with this administration.
Still hope Ivanka is kept at arm’s length when necessary.
Really? She has stated outright that her priorities include what is a half-trillion estimated (you know it will be higher) new childcare entitlement for parents earning up to a half million a year! She has said publicly that climate change is a priority. She is big on the debunked idea of women being paid a fraction of what men are. She is married to a lifelong Manhattan Democrat. She was quoted in a meeting this week with the SBA asking about how a program could be expanded nationally.
And I could go on.
A lot of funds invest in these sorts of offerings through various financial vehicles like credit lines or subscription offered stock
It’s not like Soros is their “money man”
Keep digging you’ll find other financial entities controlled by folks we don’t like
Blankfein
Buffet
And so forth
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