Penelope
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Just the beginning of pay to play on Steroids.
March 13, 2017 11:57 AM EDT March 13, 2017 1:44 PM EDT
A company owned by the family of Jared Kushner, President Donald Trump’s son-in-law and senior adviser, stands to receive more than $400 million from a prominent Chinese company that is investing in the Kushners’ marquee Manhattan office tower at 666 Fifth Ave.
The planned $4-billion transaction includes terms that some real estate experts consider unusually favorable 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.
Kushners Set to Get $400 Million From Chinese Firm on Tower