Trump National Doral
FAST FACTS
Underlying Assets: Golf Courses & Resort Location: Miami, Florida Purchase Date: 2011 Purchase Price: $150 million Reported Value: $50 million or more Reported Debt: $55 million or more Reported Income: $131,892,107 Website: trumpgolfdoral.com OVERVIEW
Donald Trump purchased the iconic Doral golf course near Miami in 2011 for $150 million . The deal was financed with a $125 million loan from Deutsche Bank. Deutsche Bank holds two mortgages on the property, worth more than $55 million. Both mortgages were issued in 2012 and mature in 2023. Both mortgages have variable interest rates pegged to LIBOR + 1.75% or Prime minus 0.75%. Invanka Trump reportedly led negotiations to purchase the course from Winthrop Realty Trust. Trump claimed that the course was worth $50 million or more in his 2016 financial disclosure. Trump has aggressively appealed for local officials to reduce the course's assessed value, most recently having its assessed value lowered to $75 million . Trump has reported that the course earned income of $131,892,107 in 2016. Trump's attorneys argued in a 2014 tax challenge that the golf resort actually lost $2.4 million. Trump reported $49,448,432 of income for Doral in his 2015 financial disclosure. Trump reportedly installed a state-of-the-art surveillance system at the club. OWNERSHIP STRUCTURE Trump National Doral:
1% owned by Trump Endeavor 12 Manager Corp
100% owned by Donald J. Trump
99% owned by DJT Holdings LLC
99% owned by The Donald J. Trump Revocable Trust
1% owned by DJT Holdings Managing Member LLC
100% owned by The Donald J. Trump Revocable Trust
Trump has reported a separate company, White Course LLC, that manages one of the courses at Trump National Doral (the White Course). That entity reported a bank account with less than $1,000 in it and income of $86,786. White Course LLC
1% owned by White Course Managing Member Corp
100% owned by Donald J. Trump
99% owned by DJT Holdings LLC
99% owned by The Donald J. Trump Revocable Trust
1% owned by DJT Holdings Managing Member LLC
100% owned by The Donald J. Trump Revocable Trust
The Donald J. Trump Revocable Trust is managed for the "exclusive benefit" of Donald Trump.
