A bank’s decision to loan Donald Trump’s company $100 million is the latest evidence the former president might survive fraud investigations and a business-world backlash over his efforts to stay in office after losing the 2020 election
But in the fall, Trump struck a deal to sell his Washington hotel for far more than expected. And a partnership he's involved with that owns two office towers recently took out new loans for far more than needed to pay off old ones coming due.
Asked for comment for this story, one of Trump’s sons lashed out at journalists for depicting the family company as struggling. Coronavirus shutdowns added to the trouble. Revenue at the company's biggest golf property, the Doral outside of Miami, plunged $33 million in the two years through 2021, down 44%, according to financial records obtained by a government ethics agency.
Meanwhile, Trump's biggest office buildings, though suffering, have not seen a widescale exodus of tenants. The Trump Tower loan follows other deals to refinance mortgages on a building in San Francisco and for a Sixth Avenue tower in New York, both 30% owned by the Trump Organization and 70% owned by publicly traded real estate giant Vornado.
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