(RightWing.org) – For several decades, Trump Tower in New York City was a tourist destination site. Over the last five years, former President Donald Trump said his company was performing well. Yet, Democrats alleged his business was good because he allegedly cooked the books and exaggerated his wealth. However, a new loan may demonstrate that Democratic prosecutors might be overzealous in targeting Trump, his family, and his business.
On February 17, San Diego-based Axos Bank gave the Trump Organization a $100 million loan to refinance Trump Tower. Trump maintains that the media and Democrats are on a witch hunt to harm his future political prospects and his business. Regardless, it appears that the former president and his company are doing much better than Democrats or the liberal media want to portray.
Banks Not in the Business of Giving Bad Loans
Those who’ve applied for a mortgage or other real estate loan know that the process is challenging, especially if you’re a business owner. Because the Trump Organization is a private company, the public can’t know exactly how profitable his company is, but those who provide massive loans do.
Former Deutsche Bank lender and now real estate finance consultant Mike Offit said that if a business presents him a property for a loan and it meets the right conditions, he’ll gladly offer the loan. He said that good cash flow, location, and tenants are the key, and he could care less what someone’s politics are if the commercial real estate holder has good buildings and manages them well.
If that’s true, Trump’s financial portfolio must be strong to get a $100 million loan. After all, banks aren’t in the business of making risky loans that could hurt them.
Does Trump’s Real Estate Portfolio Demonstrate His Financial Strength?
So, does the media narrative that Trump misrepresent his finances hold water? Regarding Trump Tower, there hasn’t been a severe exodus of tenants. In fact, Gucci extended its lease for 16 years in 2021. During the pandemic shutdown in New York City, the building earned $19 million from January through September 2021.
Then there’s this – the old DC post office turned into Trump Hotel just blocks from the White House received an offer for $375 million and is awaiting transactional approval from the federal agency overseeing the building.
Yet, if anything shows Trump’s financial and political strength, it’s Mar-a-Lago. Trump’s Florida home and estate is a breathtaking business. Initiation fees are climbing as GOP groups and politicians hold fundraising events there.
So, what does it mean for Trump’s legal situation in New York and his political future? On the outside looking in, the business appears to be doing very well despite Democratic attempts to run clients off. Regarding the legal situation in New York, we’ll have to wait and see. The longer the investigation lingers, the better things may look for Trump.
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