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Thu Mar 11, 2021, 06:10 PM

4 Trump buildings in NYC, part of DA's probe, also grapple with slumping profits [View all]

This discussion thread was locked as off-topic by Omaha Steve (a host of the Latest Breaking News forum).

Source: cbsnews

March 11, 2021 / 11:58 AM / MoneyWatch

Donald Trump's premier New York City real estate holdings once the foundation of his fortune and fame have increasingly become a problem for the former president.

Part of the reason is COVID-19, which has taken a toll on many landlords. Yet the hit to Trump's New York real estate operations is harder than the rest of the industry has experienced, and it comes after years of financial underperformance by the Trump Organization properties in some of the city's swankiest neighborhoods.

Indeed, last year marked the fifth year in a row in which the four most prominent Trump-owned buildings in Manhattan, including the Fifth Avenue Trump Tower made famous by "The Apprentice" TV show, missed lenders' earnings expectations, according to a CBS MoneyWatch review of publicly available documents.

Commercial mortgages like the ones on Trump's buildings are bundled by bankers into investment vehicles called commercial mortgage-backed securities. The CMBS are then sold to pension funds, mutual funds and other big investors who receive a bond-like interest payout that's based on the income generated by the properties. .....................

Read more: https://www.cbsnews.com/news/trump-buildings-investigation-new-york/

Hitting Trumps wallet. It is the best place.


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Reply 4 Trump buildings in NYC, part of DA's probe, also grapple with slumping profits [View all]
riversedge Mar 2021 OP
pandr32 Mar 2021 #1
Cirque du So-What Mar 2021 #2
Blue Owl Mar 2021 #3
riversedge Mar 2021 #4
bucolic_frolic Mar 2021 #5
SergeStorms Mar 2021 #6
ProfessorGAC Mar 2021 #7
SergeStorms Mar 2021 #10
twodogsbarking Mar 2021 #8
keithbvadu2 Mar 2021 #9
SergeStorms Mar 2021 #11
Beacool Mar 2021 #12
George II Mar 2021 #13
LiberalLovinLug Mar 2021 #14
WarGamer Mar 2021 #15
Omaha Steve Mar 2021 #16