search

The Real Deal Logo

Trending

Housing deal finally passes; here are the detailsHousing deal finally passes; here are the detailsLawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aBillionaire hedge funder Larry Robbins makes South Florida moveBillionaire hedge funder Larry Robbins makes South Florida moveYellowstone drops approximately $200M on 1740 Broadway debtYellowstone drops approximately $200M on 1740 Broadway debt
Commercial
New York

Why early buyers of the Trump Organization’s $200M Scottish housing project are raising eyebrows

Despite the company’s golf courses in the country losing money, the project is allegedly attracting a large amount of attention

President Donald Trump; behind, the Trump Organization's Turnberry golf property. (Credit: Gage Skidmore, Terry Stewart)
President Donald Trump; behind, the Trump Organization's Turnberry golf property. (Credit: Gage Skidmore, Terry Stewart)

Despite Trump International Golf Links Scotland money troubles, there is significant interest in buying homes the company’s developing adjacent to its Aberdeen course–at least according to their legal team.

Sign Up for the undefined Newsletter

“It is rare for a development to attract such interest prior to the submission of a planning application,” Trump’s law firm noted in its filings to Aberdeenshire Council, as reported by Bloomberg. Many homes have been reserved, the lawyers claim, despite the development’s pending plans. The company plans to construct up to 500 homes–if the city approves its proposal, and spend nearly $200 million in the process.

The Aberdeen golf course itself is not making money. According to Bloomberg, it wracked up losses to the tune of 1.4 million pounds ($1.8 million USD), while Trump’s second Scottish course in Turnberry had a shortfall of 17.6 million pounds ($23 million USD). [Bloomberg]—Erin Hudson

Tags
Commercial Real EstateTrump Organization