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Real Estate

Trump National Doral to expand into luxury  housing development?

Cashflow In Miami
August 2, 2022

The former president said in a statement that he plans to apply to create 2,300 luxury homes as well as retail and commercial space in the first phase of construction at Trump National Doral.   The resort, which Trump bought out of bankruptcy in 2012 for a reported $150 million, includes four golf courses and a luxury hotel. Trump borrowed $125 million from Deutsche Bank and planned $250 million in renovations.

The Doral was consistently pulling in more than $70 million a year while Trump was in office and before the pandemic affected travel, according to his financial disclosures as president. That dropped to less than $50 million in 2020.A New York Times investigation into the president’s tax returns published in September 2020 detailed Trump’s golf club and resort properties had reported combined losses of more than $315 million since 2000.

From 2012 to 2018, Trump National Doral lost $162 million, according to the Times. Doral reportedly asked Deutsche for a delay on loan payments, set to come due in 2023.We will wait and see what happens.


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