Deutsche Bank’s loans to Trump have included money for a Florida golf resort, a Washington D.C. hotel and a Chicago tower. Two of the properties are being hit by the pandemic, the New York Times said. The Doral golf resort near Miami has stopped all operations, while the Washington hotel closed its restaurant and bar, according to the newspaper.
The Trump International Hotel stands in Washington, D.C.Photographer: Alex Edelman/Bloomberg
A process to sell the hotel lease has been halted amid a collapse in the commercial real estate market, the Washington Post reported.
Analysts have flagged commercial real estate as a particularly vulnerable part of the economy as malls and hotels across the country have had to close. But while other companies hit by the crisis may be able to tap into a $500 billion rescue fund, the President and his family are barred from accessing that money, the New York Times said.