05-31-2016, 08:20 PM
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full-time aspiring rapper
Industry Role:
Join Date: Aug 2012
Location: Compton, CA
Posts: 5,746
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Quote:
Originally Posted by dyna mo
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.
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From NY Times archives
Trump Is Selling Plaza Hotel To Saudi and Asian Investors - NYTimes.com
Quote:
The buyers said yesterday that the deal put a total value of $325 million on the landmark hotel at 59th Street and Fifth Avenue near Central Park.
In essence, the buyers are taking over the Plaza by assuming most of its debts. None of the money from the deal will go to Mr. Trump, who acquired the hotel for about $400 million in 1988. Rather, it will go to banks in the United States that had lent money to Mr. Trump and to banks in Japan that hold a mortgage on the hotel property.
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Quote:
As part of the deal, CDL and the Prince will pay down the outstanding debt on the hotel owed to the banks, reducing it to about $25 million from more than $300 million. According to people familiar with the transaction, that remaining $25 million will be converted into equity held by a bank consortium led by Citibank.
Under terms of an agreement reached late in 1992, that consortium agreed to forgive overdue interest payments on some $300 million in loans in return for a 49 percent stake in the Plaza.
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Ahahahahahahahaahahahahaha Ahahahahahahahaahahahahaha Ahahahahahahahaahahahahaha
But lets get to Benghazi  |
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