Jared Kushner's Firm Eyes Billion-Dollar Property Deals in the Balkans [View all]
Source: Bloomberg
March 15, 2024 at 7:25 AM EDT
Jared Kushner’s Affinity Partners is in advanced discussions on three property development investments in the Balkans that could surpass $1 billion. The Miami-based private equity firm plans to transform Albania’s Sazan Island in the Mediterranean that was previously home to a military base, into a luxury Aman branded eco-resort community, Kushner said in an interview with Bloomberg News.
Affinity is also looking to develop Albania’s Zvërnec Peninsula, a coastal region with more than three miles of deep white sand beaches. The firm plans to add several major resorts in the area, with nearly 10,000 units of villas and hotel rooms. “Sazan Island is one of the most pristine and unique coastlines that I have seen anywhere in the world,” Kushner said.
Researching with his friends Ric Grenell, who served as US Ambassador to Germany during the Trump administration, and Asher Abehsera, he was drawn by one of the world’s fastest-growing tourism areas. Albania’s resort city of Ksamil ranks among the top global Airbnb destinations.
A third project would transform three abandoned blocks in the heart of the Serbian capital Belgrade into a luxury hotel with commercial space and more than 1,500 residences. The historic area has been vacant since the April 1999 NATO bombing of the former Government of Yugoslavia’s Ministry of Defense Building. Kushner is the son-in-law of former President Donald Trump and served as a senior White House adviser. After leaving his government job, he set up Affinity, which now has assets of $3.1 billion.
Read more: https://www.bloomberg.com/news/articles/2024-03-15/trump-son-in-law-jared-kushner-s-saudi-backed-firm-eyes-balkan-deals
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