Donald Trump takes new $100 million loan on Trump Tower; re-fi was handled by San Diego bank headed by GOP donor
Laura Italiano
Wed, March 9, 2022, 2:53 PM MST·1 min read
Donald Trump has refinanced the $100 million mortgage on Trump Tower in Manhattan, city records show.
The loan was handled by a San Diego bank headed by a Trump donor.
The skyscraper houses The Trump Organization and his three-story penthouse.
Donald Trump has refinanced the $100 million dollar mortgage on his flagship Manhattan skyscraper, Trump Tower, according to New York City records.
The lender is Axos Bank in San Diego; the bank CEO, Greg Garrabrants, donated some $50,000 to Republican campaigns since 2012; $9,600 in donations supported Trump, according to federal election records.
The refinancing was first reported Wednesday by Forbes which noted the previous $100 million dollar loan on the property had been scheduled to come due in September.
Last September, that loan was placed on a debt watch list after Wells Fargo, the loan's master servicer, said occupancy had dipped to 78.9% from 85.9% at the end of 2020.
Multiple tenants had at that point fallen behind on rent, including Marc Fisher Footwear, which had manufactured Ivanka Trump's shoe line on the tower's 21st and 22nd floors. The skyscraper houses Trump's three story penthouse and the offices of his real estate company, The Trump Organization.
The Trump Organization and Axos Bank did not immediately respond to requests for comment.
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