Former President Donald Trump took out a $100 million loan in order to refinance Trump Tower last month, documents recorded this week by New York City's Department of Finance reveal.
Trump's previous mortgage on the skyscraper in Manhattan, which was a $100 million loan from Ladder Capital, a commercial real estate investment trust, was scheduled to come due this coming September, according to Forbes.
The financing this time around for Trump Tower was from Axos Bank of San Diego, which launched in 2000 as Bank of Internet USA.
The loan documents were signed by Eric Trump as the president of Trump Tower Commercial LLC.
Axos Bank CEO Gregory Garrabrants has contributed, over the past decade, $9,600 in support of Trump, and $50,000 overall to Republican campaigns, Federal Election Commission record show.
A spokesman from Axos Bank had no comment on the loan, while the Trump Organization did not respond to inquiries.
Forbes valued Trump Tower at $285 million last November. Based on reporting from the magazine, Trump had an estimated $1.3 billion in debt over all of his properties as of last October.
Brian Freeman ✉
Brian Freeman, a Newsmax writer based in Israel, has more than three decades writing and editing about culture and politics for newspapers, online and television.
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