Jared Kushner founds investment firm in Miami

Jared Kushner and wife Ivanka Trump own a Surfside condo and Indian Creek estate (Getty)

South Florida seems to have an inspirational effect on Jared Kushner. Former White House advisor and son-in-law of former President Donald Trump starts a Miami-based investment firm called Affinity Partners.

Kushner has spent the past six months at Surfside with his wife, Ivanka Trump, working on a book about his White House experience as a top adviser to Trump. The power couple rents a luxury apartment in Antonio Citterio’s Arte owned by developer Alex Sapir, two blocks from the site of the collapsed Champlain Towers South. They also bought a six-bedroom waterfront property in Indian Creek for $ 24 million.

Affinity Partners is still in the planning phase and no information about potential investors has been released. Kushner is considering opening an office in Israel to track investments in the Middle East, according to Reuters, which first covered the Affinity News. The Wall Street Journal reported that Affinity Partners would open sometime this fall and that the investment firm would be separated from the Kushner family’s real estate company, Kushner Companies. Jared Kushner stepped down as CEO in 2017.

Kushner Companies is optimistic about South Florida and has announced plans in 2019 to develop three large residential projects totaling 3,000 units in Fort Lauderdale and Miami’s Wynwood and Edgewater neighborhoods. The price is estimated at more than $ 1 billion.

In June, more than two years after signing the contract, Kushner Companies paid $ 20.5 million for a 0.75 acre lot on 2000 Biscayne Boulevard. The developer is planning a nearly 400-unit tower that will be the first phase of a three-building structure Project with 1,100 units. The site is in an opportunity zone.

In addition, Kushner Companies is planning a mixed-use project in Fort Lauderdale with four towers and 1,300 apartments, office and retail space. The city commission recently granted final approval for the rededication of the 200, 300 and 520 Broward Boulevard building lots. Construction is scheduled to start 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 for $ 25 million. His brother Joshua Kushner and wife, model Karlie Kloss, bought a waterfront mansion at 2318 North Bay Road in Miami Beach last year.

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from Daily Florida Press https://dailyfloridapress.com/jared-kushner-founds-investment-firm-in-miami/