Published on : Mar 24, 2015
Joshua and Jared Kushner have charted the separate careers for years, one as a technology venture capitalist, and the other as a real estate developer. But the brothers have now teamed up for a novel firm that joins both their proficiencies. The Kushner brothers, who are the scions of a real estate dynasty based in New York, have established Cadre, and a start-up that focuses at making it easier for selected clients such as family offices and donation to invest in real estate utilizing technology.
The firm plans to declare that it has raised over US$18.3 million; driven by Thrive Capital and the venture capital firm General Catalyst owned by Mr. Joshua Kushner. Other investors consisted of Mr. Michael Fascitelli, the ex chief executive of Vornado Realty Trust; Mr. Jon Winkelried, an ex co-president of Goldman Sachs; Mr. Andrew L. Farkas, an investor to real estate; and SL Green, which is a New York real estate concern.
It has also managed for a backing of US$250 million from an unnamed family office to support its liquidity. The firm was born from an idea by the Kushners that the popularly opaque industry for real estate investments was mature for disruption. This conviction is also shared by Ryan Williams, who is a friend of both the brothers who put their money in real estate at the Blackstone Group and the Goldman Sachs.
Yet how accurately Cadre functions, is a bit of ambiguity. All that Mr. Williams, who is the chief executive of the firm, would state in an interview is that the staff of ten pre-screens potential investments of the firm and then heaps the properties onto its platform.