Clockwise from top left: The revised plan for the Obama Presidential Center in Chicago, Jared Kushner, Lloyd Blankfein and Ryan Williams partner for Cadre, the proposed Expo rental building in Minneapolis, and Howard Lutnick and Barry Gosin of Newmark.
From TRD NYC: Kushner-founded real estate startup inks deal with Goldman Sachs
Cadre, the real estate startup co-founded by Jared and Joshua Kushner, has struck a deal with Goldman Sachs that will allow the bank’s clients to invest in commercial properties using Cadre’s platform, Reuters reported. The Kushners’ firm, headed by CEO and fellow co-founder Ryan Williams, buys into properties then lets its members purchase small stakes in them and claims to have already closed more than $1 billion in property deals. Goldman Sachs has reportedly committed $250 million in investment to Cadre. [TRD]
Why stock market is unimpressed by Newmark’s IPO
Commercial real estate firm Newmark Knight Frank went public in December, but it has received a decidedly rough welcome on the stock market. Owned by Howard Lutnick’s BGC Partners, Newmark intended on selling 30 million shares on the NASDAQ exchange but only sold 20 million. The expected share price was between $19 and $22, but ended up at $14 when the IPO …read more