Kushner Cos. LLC received a $325 million loan from Citigroup Inc. in order to finance its office buildings in Brooklyn, New York City, according to The New York Times.
The loan was made in the spring of 2017, shortly after Jared Kushner, president and CEO of Kushner Cos., met with Citigroup's CEO Michael Corbat at the White House.
Also, the Times reported that Apollo Global Management LLC loaned Kushner Cos. $184 million to refinance the mortgage on a Chicago building, and that founder Joshua Harris discussed a possible role in the administration earlier that year.
The New York Department of Financial Services has already asked three banks for details on their lending relationships with Kushner.
Kushner Cos. had been Citigroup's client before the U.S. presidential elections and the "relationship had no connection to Mr. Kushner's White House role," said Citigroup's spokeswoman, Danielle Apsilos. A spokesman for Kushner's lawyer told the Times that, since taking his role in the government, Kushner "has taken no part of any business, loans or projects with or for" Kushner Cos. and that he has has followed ethics advice. An Apollo spokesman told the publication that the loan was approved through the company's standard process, in which Harris was not involved.
