Kushner company buying apartment complex near Princeton, NJ

AP News
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Posted: Sep 18, 2017 11:43 AM
Kushner company buying apartment complex near Princeton, NJ

The real estate company owned by the family of Jared Kushner is expanding its garden apartments holdings with the purchase of a 1,032-unit complex near Princeton, New Jersey.

The Kushner Cos. says it's paying $190 million for Quail Ridge in Plainsboro, New Jersey. The purchase follows a deal for a 5,517-unit complex in Maryland earlier this year.

President Donald Trump son-in-law Jared Kushner stepped down as CEO of the Kushner Cos. in January before becoming a senior adviser to the president. The company owns more than 20,000 garden apartments in several states.

The Kushner Cos. says it has struck more than $2 billion in deals in two years.

Quail Ridge is being sold by Angelo, Gordon & Co. The complex used to be owned by Kushner Cos. 11 years ago.