Real Estate Tech Startup Cadre Links Kushner To Undisclosed Business Partners
Want to get a jump-start on upcoming deals? Meet the major players at one of our upcoming national events!
Real estate startup Cadre is linked to some very powerful investors. The tech company that aims to make trading real estate as easy as buying stock is partially owned by BFPS Ventures, an investment firm owned by President Donald Trump’s son-in-law Jared Kushner.
Cadre allows wealthy people to invest $500K or more into particular buildings as if they were stocks. The concept provides a unique opportunity considering investors are typically forced to either buy an entire building or invest in a real estate fund that buys stakes in buildings, essentially giving up all control of where that money is going.
New information reveals that Kushner's involvement in the company was not disclosed in his government filing. The senior White House adviser has standing relationships with George Soros, Goldman Sachs and Peter Thiel through this startup, all of which were not disclosed, the Wall Street Journal reports. Kushner did not identify Cadre in his disclosure form, but he did identify BFPS Ventures.
This issue is part of a larger series of conflicts of interest, which include Trump’s plan to destroy Energy Star and his refusal to sell his assets or place them in a blind trust, a move advocated by almost every ethics expert.