“I didn’t there was a Trump Tower in Chicago.”
Yep.
An analysis of his tax returns by the newspaper revealed that when construction of Trump International Hotel & Tower hit financial trouble, a big bank and a hedge fund granted years of extra time to pay back his debts.
And much of this debt was forgiven, the Times reported.
That’s an interesting article. They work fairly hard to make unclear what part of the money owed was principal, accumulated interest, or projected interest. They also seem to be playing loose with how long the extra time was, and include the time dueling lawsuits were going on as part of the “years of extra time”.
“When the loans were due in 2008, the Trump International Hotel & Tower was still unfinished. Deutsche Bank initially granted Trump a six-week extension to repay the money, according to the report.”
It is BI, though, so not really surprising.
The Trump International Hotel and Tower, a towering skyscraper in downtown Chicago, Illinois, serves as both a condominium and hotel. Named after Donald Trump, the building was designed by architect Adrian Smith from Skidmore, Owings & Merrill. Constructed by Bovis Lend Lease, the edifice spans 100 stories and stands at a height of 1,388 feet.