Donald Trump pulled out nearly $100 million in 2013 from the office properties he owns with Vornado Realty Trust, which are among the few investments generating money for him.
Trump withdrew $95.8 million seven years ago from the partnership he has with the real estate investment trust owning 1290 Sixth Avenue in Manhattan and 555 California Street in San Francisco, according to an investigation by the New York Times.
The move came during a period when Trump sold off most of his stocks and bonds — totaling more than $150 million — and pocketed $100 million by mortgaging the commercial space at Trump Tower, the Times found. Its story Sunday focused on how the president used business losses to avoid paying income taxes.
As businesses like his golf courses and hotels lose money, Trump is helping stem losses from the buildings he owns with Vornado.