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New: The stagnant commercial real estate industry has forced Trump's company to pause plans to sell the Trump D.C. hotel. w/@Fahrenthold

Trump Org and other landlords are also trying to figure out how to handle tenants that suddenly have no business.

washingtonpost.com/business/2020/…
Senate Dems added a provision to the bailout barring Trump Org from accessing ~$450B in capital employers in need of aid. But since the company owns commercial real estate it will see tax advantages, as @JesseDrucker reported
There are ethical and legal nightmares ahead for partners of Trump Org if commercial real estate, hotels and golf don't get turned around soon. And maybe it's already too late for some of it.
Trump Org is landlord to dozens of office and retail tenants and may legally begin eviction proceedings or take other measures if those companies stop paying rent. That includes the state owned Bank of China, in New York. What if Trump Org has to evict China's bank?
Trump Org is also the tenant to the federal government at the D.C. hotel. It's currently paying rent to the government for a hotel it cannot effectively run. What if Trump's company asks Trump's government to renegotiate the terms?
Trump Org is a borrower on a number of hotel and golf properties to Deutsche Bank. Those properties are producing next to zero income right now. What if Trump Org defaults on payments or asks to renegotiate those terms?
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Jonathan O'Connell
@OConnellPostbiz
Coming at you live from House subcommittee hearing on the federal lease for Trump’s DC hotel. GSA has refused to hand over key documents to House Dems and would have to oversee Trumps sale of the lease. Let’s see if there’s any movement today.
Rep Titus starts off by say GSA chief Emily Murphy is in a "difficult position" given that Trump is her boss and also the majority owner. If Trump tries to sell the hotel lease, Murphy and her team will be charged with reviewing and either approving or disapproving any deal.
Rep Greg Pence wondering why the focus of the hearing is the president's hotel when there are other important issues to consider. His campaign has spent thousands of dollars at the hotel raising campaign funds.
Read 14 tweets
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Jonathan O'Connell
@OConnellPostbiz
Since nothing else is going on in Washington today I'm going to tweet some bits of information that prospective buyers of Trump's D.C. hotel have received.
First, it wasn't clear when Trump Org first announced that it might sell its lease whether Trump was really willing to take his name off the building (even though doing so would have driven the price down dramatically).
But Trump Org's broker is making clear: you can take the name off and you will make a lot more money than the Trumps did as owners in doing so. The booklet is filled with projections about how much $ they think a new owner could make.
Read 10 tweets
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Jonathan O'Connell
@OConnellPostbiz
A few thing to remember about Doral: this is not not like a lot of Trump properties, where he is just the manager or the brand. He owns Doral and he borrowed heavily to acquire it.
A number of other banks wouldn't issue that loan but, as @davidenrich has reported, Deutsche Bank took a circuitous route to approving $125 million toward it. Trump still carries that loan.
@davidenrich Since Trump became president, Doral has been sliding financially, as @Fahrenthold and I have reported. Revenue and profits are down in nearly every category. washingtonpost.com/politics/trump…
Read 6 tweets

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Just last night, @realDonaldTrump shared a Trump Org tweet promoting—

Ferry Point.

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Derek Kravitz
@derekkravitz
@realDonaldTrump’s latest financial disclosure report has a bunch of interesting figures (almost all conflating gross revenue with net profit) but one “inactive” hotel deal through T Express LLC clearly started after he entered office, in 2017:
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