It's been my understanding after speaking with a number of people in the real estate world in NYC that Trump's acquisitions team is essentially doing very minimal deal flow any more, and of his current portfolio holdings, there's no way to tell how much he actually owns.
Most suggest that he exited the real estate business years ago and has since focused on other ventures, but I'm not sure what truth there is to this.
The reasoning behind this is due to the view that he was highly levered in the 80s / 90s and couldn't afford to keep up with the interest payments, and due to the way RE is often structured (mezz financing), defaults heavily diluted his ownership in all of his properties. Not saying this is true, but it's what I've heard.
I think Bloomberg did an article a few months ago with a fair amount of detail.
He still owns stuff in NY. He owns buildings in midtown and in the financial district. It's not as much as you'd think it is by listening to him speak, or by counting how many things he has his name of (because of licensing deals). Nonetheless, it's still many millions in real estate.
But is there any way to tell what % of the properties in his "portfolio" he actually owns a substantial percentage of? As far as I know, his acquisitions team is in the single digits...
You can look at his financial disclosure from earlier this year. Digging through that along with Google (and a few hours of your time) can probably get you a pretty solid idea of what he owns.
http://pfds.opensecrets.org/N00023864_2016_Pres.pdf
Donald Trump is now mostly a licensing business.
Since his name is on a lot of buildings, it seems like he owns a lot. He doesn't actually own most of those buildings though is the tricky part. I don't think he has anything to gain by releasing his tax returns but I think it'd be easier to tell what he owns with them.
If you have a county tax records database subscription, like LandVision or FirstAm, you could do a reverse owner lookup. Obviously his properties are most likely LLCs, so you will have to use the tax billing address as the reverse lookup value. Might not be all-encompassing or eyeopening, but I am always surprised to see the amount of dogshit Class B/C assets these type of guys hold.
I hear he is to the point where he doesn't actually "own" the real estate, rather the Trump name licensed from him for marketing purposes.
If this is true, it's awesome. I would love to have zero risk and collect licensing fees .
according to the bloomberg terminal:
Golf courses: $710mm 725 Fifth Ave: $600mm Vornado Partnership: $590mm 40 Wall St: $540mm 6 East 57th: $520mm Other properties: $220mm 502 park ave: $170mm Washing Hotel: $60mm
What was the Bloomberg function you used for this?
If you type in Donald Trump in Bloomberg Search > BIO > Billionaire Profile > Net Worth Analysis. Bottom left has a breakdown.
trmp : GO
The Vornado JV includes at least two buildings in San Fran...I believe.
He has a lot of partial interest stakes... most notably with Vornado which is mentioned above. I'd imagine it is tough to identify properties in which he has minority interest in without having an inside scoop.
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I know some of his holdings in New York are actually leasehold interests (40-50 year terms remaining) rather than fee. Although this wouldn't affect his cash flow dramatically in the interim every year that passes the value of the leasehold is supposed to go down (assuming no spike in rent being collected) so will be interesting to see how his company/family handle these as the terms come closer to expiration.
Curious, anyone ever see a job posting for like an Acquisitions Analyst role there? Did a quick LinkedIn search and saw one profile of one. Curious how Trumps firm is if anyone outside of family is in the financial aspect of it.
Which is why I believe they aren't truly involved in actual acquisitions any more, but rather licensing and partnerships
https://www.linkedin.com/in/jonathanetra
You most likely saw the same guy.
Waspy look, prep school, ivy university... yup that's a trump guy
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