Tags: trump | buying | commercial

Trump Buying Commercial Real Estate

By    |   Friday, 17 Apr 2009 10:35 AM

The Donald is buying real estate again.

This time it's commercial property, says Donald Trump, chairman and president of the Trump Organization.

Trump told CNBC that the bottom of the real estate market may not yet have been hit, but that it's a good time to buy.

But buying commercial real estate if you need a loan may not be that easy, however, according to Trump.

"The banks are not lending money, there's no money out there, no matter how strong you are no matter how good your deal is, if you go to a bank today, they virtually laugh at you if you're asking for money," Trump said.

"A lot of these banks have been given huge billions by the government, but there's absolutely no money to be given to somebody wanting to create jobs, wanting to create projects, or wanting to do deals. "

Although Trump is now buying commercial real estate, he doesn't claim to know that this is the bottom of the market.

“The only problem with buying [now] is that you just don't know how low is low," he said.

Some analysts of the commercial real estate market are not yet optimistic.

Robert Canter, president and founder of Performance Realty Solutions, a commercial real estate consulting firm, wrote “the commercial real estate market is in for a long depressing time for the foreseeable future," in an article for The Wall Street Journal.

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The Donald is buying real estate again.This time it's commercial property, says Donald Trump, chairman and president of the Trump Organization. Trump told CNBC that the bottom of the real estate market may not yet have been hit, but that it's a good time to buy.But buying...
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Friday, 17 Apr 2009 10:35 AM
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