It seems incredible, but it is true:
Donald Trump refinanced Trump Tower in February, taking out a $100 million loan, according to documents recorded Tuesday by New York City’s Department of Finance,” Forbes magazine reported Wednesday. “Trump’s previous mortgage on his flagship piece of real estate, $100 million from commercial real estate investment trust Ladder Capital, was scheduled to come due in September.
According to Forbes, the cash came courtesy of Axos Bank of San Diego, whose CEO has contributed butt-loads of money to Republican campaigns, including a YUGE donation to Hair Füror hisself.
And that brings us to Twizzler:
This new loan was signed by Eric Trump on February 15, one day after the New York attorney general made public Mazars’ letter stating that the Trump Organization and its lenders should no longer rely on those past financial statements. The NYAG’s and Manhattan district attorney’s investigations into the Trump Organization, and specifically the accuracy of its financial statements, have been publicly known for some time. The NYAG levied allegations of possible fraud in a January court filing and specifically alleged misstatements and omissions in the financial statements.
It’s very likely the new lender was aware of these public documents and would have come across them while doing its own due diligence and credit analysis before authorizing the loan. Banks do their own research about the creditworthiness of borrowers and make decisions based on multiple factors. Axos has declined to comment on the loan.
Anyway, depending on how you look at it, that’s another $100M Ameros of debt that they took on, or as Twizzler put it,
“Trump Tower is one of the most iconic properties in the world and sits on arguably the most prestigious corner in all of New York. We have incredibly low debt, have a tremendous amount of cash, and have an extremely profitable company. We had no problem refinancing.”
Yup: he’s bragging about a $100M loan as cash. And we think we know where some of that $100M Ameros went. High finance, indeed.