Citigroup provided the debt
Kushner Companies and KABR Group have secured a $200 million loan from Citigroup as part of its refinance of 65 Bay Street in Jersey City, according to Bloomberg. Kushner Companies website notes that it refinanced the luxury apartment tower for a total of $240 million.
Dig Deeper: The funds went to repay a construction loan that came due in September. It also paid back foreigners who invested around $50 million through the EB-5 visa program. With Kushner Companies only owning a 12.5 percent stake in the project, the media narrative is getting silly.