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President Donald Trump steps off Air Force One upon arrival at Andrews Air Force Base in Maryland on January 14, 2019.
The president’s son, Eric Trump, called the story “complete nonsense.”
“We are one of the most under-leveraged real estate companies in the country. Virtually all of our assets are owned free and clear, and the very few that do have mortgages are a small fraction relative to the value of the asset,” Eric Trump told Bloomberg in an email. “These are traditional loans, no different than any other real estate developer would carry as part of a comparable portfolio.”
Deutsche Bank declined comment to CNBC. The White House did immediately respond to a request for further comment.
President Trump has long done business with Deutsche Bank. Reports emerged earlier this month that the president had sought financing from the German bank in 2016 for a golf course in Scotland. The New York Times reported that the bank turned down Trump, again over concerns about possibly having to seize assets from a sitting president.
Read the full Bloomberg report here.
