Menora, which is also Israel’s largest manager of pension funds, has done numerous other real estate deals, including several in the United States, said the Menora executive, Ran Markman, who is the company’s head of real estate. He said he had never met Mr. Kushner. In negotiating the deal with Kushner Companies, Mr. Markman said, he worked with Laurent Morali, the firm’s president.

The deal was “not done because of the so-called connections of Jared Kushner or Donald Trump,” Mr. Markman said. “The connection to the president was not an issue. It didn’t make us do the deal, it didn’t make us not do the deal.”

Mr. Kushner resigned as chief executive of Kushner Companies when he joined the White House last January. But he remains the beneficiary of a series of trusts that own stakes in Kushner properties and other investments. Those are worth as much as $761 million, according to government ethics filings, and most likely much more: The estimate nets out the significant debt accumulated by the firm, which has done about $7 billion of deals in the past decade.

The Baltimore-area buildings in which Menora invested were the subject of an article by a ProPublica reporter in the The New York Times Magazine last year that documented the poor living conditions and aggressive tactics used by Kushner Companies, including garnishing the bank accounts of low-income tenants and turning off heat and hot water.

The White House has said Mr. Kushner would work with his ethics advisers to ensure he recused himself from “any particular matter involving specific parties in which he has a business relationship with a party to the matter.”

But a White House official also said Mr. Kushner had sold stakes in properties that would present unique complexity. For example, he sold his stake in the company’s headquarters at 666 Fifth Avenue in Manhattan, which is seeking new investors around the world.