Sad!

Jared Kushner, Donald Trump’s son-in-law and top adviser, wakes up each morning to a growing problem that will not go away. His family’s real estate business, Kushner Cos., owes hundreds of millions of dollars on a 41-story office building on Fifth Avenue. It has failed to secure foreign investors, despite an extensive search, and its resources are more limited than generally understood.

  Bloomberg

Honestly, periodically I think the reason Trump ran for the presidency (and won't release his tax returns) is because he's seriously in debt and figured he could fix that problem by deregulations, tax cuts, emoluments and generally chicanery if he were president. This is one of those times.

Over the past two years, executives and family members have sought substantial overseas investment from previously undisclosed places: South Korea’s sovereign-wealth fund, France’s richest man, Israeli banks and insurance companies, and exploratory talks with a Saudi developer, according to former and current executives. These were in addition to previously reported attempts to raise money in China and Qatar.

[...]

[The family] are walking away from a Brooklyn hotel once considered central to their plans for an office hub. From other properties, they are extracting cash, including tens of millions in borrowed funds from the recently acquired former New York Times building.

[...]

The mortgage on their tower is due in 18 months. This has led to concerns that Kushner could use—or has perhaps already used—his official position to prop up the family business despite having divested to close relatives his ownership in many projects to conform with government ethics requirements. Federal investigators are examining Kushner’s finances and business dealings, along with those of other Trump associates.

[...]

It was 2006—the height of the real-estate market boom—when Kushner Cos. agreed to buy 666 Fifth Avenue for $1.8 billion, then a record for a Manhattan building. All of it was borrowed except for $50 million. The company still holds half of a $1.2 billion mortgage, on which it hasn’t paid a cent. The full amount is due in February 2019.

[...]

The mortgage will become even more of a burden after a scheduled jump in interest rates in December. Under some dire circumstances, guarantees in the refinancing agreement could even give lenders the ability to go after the family’s other assets—many of which are also underpinned by debt.

[...]

Federal investigators know that Kushner met with then-Russian Ambassador Sergey Kislyak in Trump Tower last December and later met with Sergey Gorkov, head of the Kremlin-controlled VEB bank in two meetings that he didn’t, at first, disclose publicly or on his application for his national-security clearance. After those meetings became public, Kushner and the White House said the contacts were made in his role as a Trump adviser and didn’t involve discussion of his family business. But VEB and a spokesman for Russian President Vladimir Putin described the meetings quite differently, noted Adam Schiff of California, the top Democrat on the House Intelligence Committee. They said that Kushner was there in his capacity as head of his family’s real estate business.

Which may be some explanation of why Kushner reportedly left the meeting after only ten minutes.

Investigators say they are studying those accounts with keen interest. “I think it is part of a pattern of outreach to Russian financial interests, which are essentially Vladimir Putin and his oligarch circle, by Trump family members,” said Senator Richard Blumenthal of Connecticut, a Democrat on the Senate Judiciary Committee. “The financial dealings are important because we know that the Russian playbook is to engage and compromise foreign leaders.”

A tangled web.

History of the Kushner troubles is in the rest of the article.