Jared Kushner launches an investment company in Miami
South Florida seems to have an inspiring effect on Jared Kushner. The former White House adviser and son-in-law of former President Donald Trump is launching a Miami-based investment firm called Affinity Partners.
Kushner has spent the past six months with his wife Ivanka Trump at Surfside, where he is working on a book about his experiences in the White House as Trump’s top adviser. The power couple rent a luxury condo from developer Alex Sapir’s Arte by Antonio Citterio, two blocks from the site of the collapse of the South Champlain Towers. They also bought a six-bedroom waterfront estate in Indian Creek for $24 million.
Affinity Partners is still in the planning stage and no information has been released on potential investors. Kushner plans to open an office in Israel to continue its investments in the Middle East, according to Reuters, which first reported the Affinity news. The Wall Street Journal reported that Affinity Partners will open in the fall and the investment firm will be spun off from the Kushner family’s real estate business, Kushner Companies. Jared Kushner stepped down as CEO in 2017.
Kushner Companies is bullish on South Florida, unveiling plans in 2019 to develop three major apartment projects with 3,000 total units in Fort Lauderdale and Miami’s Wynwood and Edgewater neighborhoods. The price is set at over a billion dollars.
In June, Kushner Companies paid $20.5 million for a 0.75 acre property at 2000 Biscayne Boulevard, more than two years after the contract was signed. The promoter plans a tower of nearly 400 units which constitutes the first phase of a project of 1,100 units consisting of three buildings. The site is in an opportunity zone.
Kushner Companies is also planning a four-tower mixed-use project with 1,300 apartments, offices and retail in Fort Lauderdale. The city commission recently granted final approval for the rezoning of the development site at 200, 300 and 520 Broward Boulevard. Construction is expected to begin in 2022.
In July, Kushner and Trump closed on 36 Indian Creek Island, a 1.3-acre estate with an 8,150-square-foot mansion, manicured landscaping, reflective pools and a large dock that was originally listed at $25 million. dollars. His brother Joshua Kushner and his wife, model Karlie Kloss, bought a waterfront mansion at 2318 North Bay Road in Miami Beach last year.
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