Trump refinances mortgage on Trump Tower with $100 million loan
The loan document was signed on Feb. 15 by Eric Trump, who along with his brother, Donald Trump Jr., has led the Trump Organization on a daily basis since their father became president in 2017.
Financial terms of the loan were not disclosed.
Eric Trump told CNN in a statement that “Trump Tower is one of the most iconic properties in the world and sits in arguably the most prestigious corner of all of New York City. We have incredibly low debt, have a huge amount of money and have an extremely profitable company. We have had no problems refinancing.”
A spokesperson for Axos Bank declined to comment.
The refinancing by Axos Bank, whose chairman has donated to Trump’s political campaigns, comes as the Trump Organization has come under scrutiny and questions have swirled about the state of the company.
The loan was signed days after New York investigators released a letter from Mazars USA, the former president’s longtime accounting firm, saying the Trump Organization and its lenders should no longer stand together. proud of 10 years of financial statements. The Trump Organization has retained the services of another accounting firm.
The previous mortgage was provided by Ladder Capital, which has lent the Trump Organization millions of dollars over the years, according to financial information made public when Trump was president. Weisselberg’s son, Jack Weisselberg, is an executive at Ladder Capital.
The new Trump Organization lender is led by Gregory Garrabrants, who has donated nearly $10,000 to campaigns associated with Trump since 2020.