Quote:
Originally Posted by Rochard
That's so cute how you did that.
Trump bought the hotel for $407.5 million in 1988. In 1995, CDL Hotels International bought the hotel for $325 million. However, due to one of Trump's multiple bankruptcies, Citibank owned 49% of the hotel then.
The hotel did in fact sell for $675 million. However, that was when CDL Hotels International sold it to El Ad Properties - In 2004, long after Trump had sold the hotel.
This was a massive lost for Trump. It nearly destroyed him.
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Entirely wrong. They bought a 49% stake in the hotel in return for a $250 million credit forgiveness and lower interest rates. All on public record as the deal was done as a prearranged be between all interested parties so deal terms are in the public domain Then they sold the hotel years later for $675m.
Ahahahahahahahaahahahahaha.