Trump Will Have $900 Million Of Loans Coming Due In His Second Term If He's Reelected
The president would likely have to engage in a series of high-stakes transactions that could produce unfathomable conflicts of interest.
https://www.forbes.com/sites/danalexander/2020/10/19/trump-will-have-900-million-of-loans-coming-due-in-his-second-term-if-hes-reelected/#1df5c0d85f37
Whether or not Donald Trump wins the election, lenders will expect his businesses to pay back an estimated $900 million in the next four years, an alarmingly accelerated timetable that involves more than twice as much debt as the president previously indicated. In order to emerge unscathed, Trump will likely have to engage in a series of high-stakes, big-money transactions—deals that could produce arguably the biggest conflicts of interest than an American president has ever had to face.
About half of the debt coming due from the start of 2021 to the end of 2024 is secured against assets that the president and his children own outright. He will have to pay back loans against his hotel in Washington, D.C., his golf resort in Miami and his tower in Chicago. He’ll also have to sort out the debt against Trump Tower and Trump Plaza in New York City.
The rest of the loans are held against 1290 Avenue of the Americas in Manhattan and 555 California Street in San Francisco, office buildings in which the president has a 30% limited partnership interest. Those properties currently have a combined $1.5 billion in debt against them, and Trump’s indirect share of their liabilities adds up to an estimated $447 million. As a limited partner, however, he presumably has less control over those obligations, as well as some protection if the properties fail to pay back their loans. “You know what limited means—limited as to liability,” Trump explained in a 2015 interview with Forbes, adding, “Where that is good is in bad times. If the world collapses, I’m not responsible for putting up any money.”
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