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(32,626 posts)
22. I can't compute the amount of money that guy owes...
Sat Sep 18, 2021, 07:03 PM
Sep 2021

I don't know the law that these people have at their disposal. Here's some oldies but goodies in TFG saga.

Trump boosts loan on Doral golf resort
By Brian Bandell – Senior Reporter, South Florida Business Journal
Aug 13, 2015, 9:59am EDT
While campaigning for president and raising almost daily controversies, billionaire Donald J. Trump took out a second mortgage for the Trump National Doral Miami on Aug. 7.

Trump Endeavor 12 LLC received a $19 million loan from Deutsche Bank Trust Co. Trump signed the document himself.

That’s the same lender that gave the resort and golf course a $106 million loan in 2012, when Trump acquired the property.

The recent loan is a “tranche B note,” which has less priority in the case of a default than the 2012 “tranche A note” and, therefore, has a lower credit rating.

Trump purchased the 650-acre property for $150 million and spent more than $200 million on renovations to its 693 rooms and five golf courses.https://www.bizjournals.com/southflorida/news/2015/08/13/trump-boosts-loan-on-doral-golf-resort.html

Trump Has a Half Billion in Loans Coming Due. They May Be His Biggest Conflict of Interest Yet.
“It’s highly disconcerting.”

Trump’s biggest creditor is Deutsche Bank, which in the late 1990s took a gamble on the real estate developer whose history of corporate bankruptcies made him untouchable by most other lenders. Although Trump and the Frankfurt-based bank pulled off several profitable deals, eventually Deutsche’s commercial lending division learned the hard way one reason why other banks considered him persona non grata: If pushed by his creditors on payments, Trump shoves back. In 2008, after he defaulted on a loan for his Chicago hotel and condo development, he filed a multibillion-­dollar suit accusing Deutsche Bank and others of contributing to the recent financial meltdown, which he blamed for his inability to repay the loan.

Nevertheless, Deutsche’s private banking division, which caters to wealthy clientele, continued to lend to Trump, giving him $125 million, spread over two loans, to finance the purchase and renovation of his Doral golf resort in 2012. Both are floating rate loans, meaning the interest rate fluctuates based on market conditions, which lending experts say usually indicates they are interest-only loans. If so, Trump probably hasn’t paid down much if any of the principal and will owe something close to the whole $125 million when the loans come due in 2023.

In 2014, Trump took out a separate floating loan from Deutsche’s private bank to bankroll the development of his luxury hotel in Washington, DC. The balance of this $170 million debt is payable in 2024. That year, Trump will also owe Deutsche between $25 million and $50 million in connection with his Chicago hotel and complex.

Trump has received additional loans from a company named Ladder Capital, a financial firm that specializes in bundling commercial debt into mortgage-backed securities. Companies like Ladder are often lenders of last resort for people and companies that, for one reason or another, have difficulty obtaining money from traditional banks (ahem, Trump). Such firms are willing to take risky bets because they securitize the debt and pass the responsibility for it on to investors. Trump has two Ladder loans due over the next several years: a $100 million interest-only mortgage on Trump Tower and a roughly $13 million loan against Trump Plaza. The Trump Tower loan is up in September 2022.https://www.motherjones.com/politics/2020/06/donald-trump-loans-deutsche-bank/

It seems only right that Wells Fargo is likely to get stiffed. spooky3 Sep 2021 #1
Yeah my thought too. captain queeg Sep 2021 #2
Glad it is Wells Fargo as it increases something going wrong. LiberalFighter Sep 2021 #24
I hope to wake up one morning and see a slightly different wording of that headline malaise Sep 2021 #3
If this loan goes bad, a number of other loans will be called LetMyPeopleVote Sep 2021 #5
You're one badass, malaise PJMcK Sep 2021 #8
LOL malaise Sep 2021 #19
This message was self-deleted by its author malaise Sep 2021 #20
Folks let's turn to the judges and see how they vote on the dive LiberalArkie Sep 2021 #14
This message was self-deleted by its author malaise Sep 2021 #4
The flabby bastard has the "Feces Touch". 11 Bravo Sep 2021 #6
Like Rick Wilson said... AngryOldDem Sep 2021 #10
Reverse Midas PJMcK Sep 2021 #11
I've often. heard that it started with Reagan. 11 Bravo Sep 2021 #13
Goldwater just showed what was bubbling below the layer of slime. Ronnie Raygun brought it out in LiberalArkie Sep 2021 #16
The nomination of Lady BlahBlah for VP was a sure sign of where malaise Sep 2021 #17
This message was self-deleted by its author malaise Sep 2021 #18
The Republican Tower of BabbleOn is falling Champp Sep 2021 #7
I wish they would call in all his debts. AngryOldDem Sep 2021 #9
If one loan goes south, Trump will face personal bankruptcy PJMcK Sep 2021 #12
If anyone sends money to the Trump campaign, Mr.Bill Sep 2021 #15
I'm pretty sure campaign finance laws only apply to Democrats, esp. if they're POC Hugh_Lebowski Sep 2021 #21
Yeah, so it would seem PatSeg Sep 2021 #30
I can't compute the amount of money that guy owes... stillcool Sep 2021 #22
Could he be manipulating his assets because of marriage problems? kentuck Sep 2021 #23
It couldn't have happened to a more deserving guy. Beacool Sep 2021 #25
tfg always manages to slip away from.his debts Demovictory9 Sep 2021 #26
It does seem that way, PatSeg Sep 2021 #31
I'm no expert on architecture, but... Tommy Carcetti Sep 2021 #27
That Trump monstrosity in Chicago PatSeg Sep 2021 #32
Time catches up with Donnie Deadbeat. Kid Berwyn Sep 2021 #28
That is fascinating PatSeg Sep 2021 #33
Not so much cachet from "Offices at Trump Tower" any more, I guess... Wounded Bear Sep 2021 #29
Trump NYC Tower Debt Hits Watch List With Vacancies Rising LetMyPeopleVote Sep 2021 #34
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