Trump Org asks lender, landlord for a break

The company is barred from receiving assistance from the $2T stimulus package

TRD NATIONAL /
Apr.April 03, 2020 12:30 PM
President Donald Trump and Deutsche Bank CEO Christian Sewing (Credit: Trump byMANDEL NGAN/AFP via Getty Images; Sewing by Thomas Lohnes/Getty Images)

President Donald Trump and Deutsche Bank CEO Christian Sewing (Credit: Trump byMANDEL NGAN/AFP via Getty Images; Sewing by Thomas Lohnes/Getty Images)

The Trump Organization, like many other companies, is hoping its lender will cut it a break.

While it loses a million dollars a day to the coronavirus pandemic, the Trump Organization has been exploring whether it can delay payments on some of its debts, the New York Times reported.

The company reached out to both its largest lender, Deutsche Bank, to see if it could postpone some loan payments. It also inquired with Palm Beach County to see if the county was still expecting monthly payments on the land for a 27-hole golf course it leases from the government.

The Trump Organization is certainly not alone in asking for a reprieve, as the broader hospitality industry reels from the coronavirus. The company closed the Mar-a-Lago club in Florida, as well as numerous golf courses in New Jersey and New York as the country practices social distancing to slow the spread of the coronavirus.

Trump properties were barred from receiving direct support from the $2 trillion stimulus package that President Donald Trump signed last week. It is not clear if the company was successful in its negotiations with lenders. [NYT] — Georgia Kromrei


Related Articles

arrow_forward_ios
Donald Trump and the Trump National Doral golf course (Getty, Trump Hotels)

In the rough: Trump’s golf clubs and resorts have lost $315M

In the rough: Trump’s golf clubs and resorts have lost $315M
Florida Gov. Ron DeSantis (Credit: Joe Raedle/Getty Images)

DeSantis says restaurants in Florida can operate at up to 100% capacity

DeSantis says restaurants in Florida can operate at up to 100% capacity
Peter Vauthy and Red South Beach (Getty)

The Weekly Dish: Red South Beach signs $5M lease for new space & more

The Weekly Dish: Red South Beach signs $5M lease for new space & more
Donald Trump (Credit: Win McNamee/Getty Images)

Newly uncovered trademarks show Trump’s Cuba real estate aspirations

Newly uncovered trademarks show Trump’s Cuba real estate aspirations
Miami-Dade County Mayor Carlos A. Gimenez (Credit: Jason Koerner/Getty Images)

Miami-Dade police said pre-Covid evictions could resume. Then came mayor’s stop order

Miami-Dade police said pre-Covid evictions could resume. Then came mayor’s stop order
Miami-Dade County Mayor Carlos A. Gimenez (Credit: Jason Koerner/Getty Images)

Miami-Dade begins phase 2 reopening: movie theaters, bowling alleys and more

Miami-Dade begins phase 2 reopening: movie theaters, bowling alleys and more
Florida Gov. Ron DeSantis (Credit: Joe Raedle/Getty Images)

DeSantis moves Miami-Dade, Broward counties into phase two

DeSantis moves Miami-Dade, Broward counties into phase two
212 Spyglass Lane & Carlos Gavidia (Realtor, Instagram/Carlos_E_Gavidia)

“Trumptilla” organizer sells waterfront Jupiter home for $6M

“Trumptilla” organizer sells waterfront Jupiter home for $6M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...