Kushner Cos Lends $33M To Toby Moskovits' Heritage Equity Partners
Toby Moskovits needed some financing for her 75k SF mixed-use project in Bushwick, so she went to Jared: Jared Kushner.
Kushner Cos’ debt fund, Kushner Credit Opportunity Fund, provided Toby’s Heritage Equity Partners a $33M loan for 215 Moore St, firmly establishing Kushner as a peer-to-peer lender in a harsh financing market.
The financing replaces a senior mortgage from Richmond Hill Investment Co, The Real Deal reports.
Earlier this year, Kushner became the mezzanine lender on JDS Development Group and Chetrit Group’s mixed-use supertall in Brooklyn, 9 DeKalb Ave. Kushner Cos president Laurent Morali says the firm mainly invests in projects worth $30M or more.
Heritage acquired the site in 2014 for $28.3M and is planning a mix of light industrial, office and retail space geared towards hip TAMI tenants. [TRD]
