Home News Kushner Cos. Offers to Buy Rival Real Estate Company

Kushner Cos. Offers to Buy Rival Real Estate Company

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Kushner Cos. is making unsolicited bids.

Bellis Residential Ltd,

Primarily owners of rental apartments in New Jersey, Bellis is valued at about $4.3 billion, including debt, according to people familiar with the matter.

Kushner, known as Jared Kushner’s family-owned real estate firm, has offered the real estate investment trust $16 a share, people familiar with the matter said. Shares in the company, formerly known as Mack-Cali Realty Corp., climbed 0.81% on Thursday to close at $12.42.

According to a letter to Bellis disclosing the bid seen by The Wall Street Journal, Kushner’s offer to take over was partly due to Bellis’ board’s failure to respond to an offer to control Bellis’ assets. It is said that it is going.

In the letter, Chairman Charles Kushner said, “Over the past few months, attempts to engage meaningfully with the board and management have been virtually ignored. Kushner is the father of former President Jared Kushner.

donald trumpson-in-law and former senior White House aide.

Kushner, a major investor in New York real estate in the years leading up to the financial crisis, has shifted focus Accumulate a nationwide portfolio of rental apartments.

If the company were to successfully acquire Veris, it would add approximately 7,700 units to its portfolio of approximately 21,000 apartments in 14 states.

Kushner owns nearly 5% of Bellis, according to people familiar with the matter. According to the letter, Kushner is willing to enter into a deal with Bellis to manage the assets rather than buy stakes in companies he does not already own. But he said he could improve the management of Bellis.

Jared Kushner doesn’t work for his family’s real estate business. After he left the White House Established a Miami-based investment company Named Affinity Partner.

Write a letter to Peter Grant at [email protected]

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