Trump Family Takes Out Massive Mortgages for Luxury Properties in Florida
ICARO Media Group
In a move reminiscent of their father's business ventures, Donald Trump Jr., Eric Trump, and Ivanka Trump have taken out substantial loans to invest in their own lavish mansions and properties. Recent reports reveal that the three eldest Trump siblings collectively borrowed over $22 million in mortgages two years ago to secure their Florida real estate.
The decision to take on these hefty investments coincided with the Trump family's relocation from New York to Florida, where Donald Trump settled after the 2020 presidential election. The timing suggests a strategic move to establish roots in the Sunshine State.
Ivanka Trump and her husband Jared Kushner stand out among the Trump children, having obtained the highest mortgage of $15 million for their $24 million fixer-upper on Miami Beach's exclusive Indian Creek Island. Dubbed the "Billionaire Bunker," this luxurious property underwent an extensive two-year renovation, featuring six bedrooms and eight-and-a-half bathrooms. The couple's mortgage is set for 15 years with a monthly payment of approximately $111,000.
The Trump-Kushner family finally moved into their newly refurbished mansion in October, shortly after completing the renovations in time for Ivanka's 42nd birthday celebration hosted at the palatial property.
Meanwhile, Donald Trump Jr. and his girlfriend Kimberly Guilfoyle secured a $4.8 million mortgage for their 11,000-square-foot mansion in Jupiter's gated community of Admirals Cove. The couple purchased the property for $9.7 million in March 2021, joining the ranks of affluent residents that include notable sports stars. Valley National Bank provided the 30-year home loan, with monthly payments reaching around $29,500, along with property tax obligations.
Not to be outdone, Eric Trump and his wife Lara acquired their own piece of luxury real estate in Jupiter, close to Donald Jr.'s residence. The couple purchased an estate worth $3.2 million, funded by a $2.4 million mortgage from Valley National Bank. Their spacious property, located within Trump National Golf Club, spans 7,715 square feet, with five bedrooms and five bathrooms. The mortgage terms span 30 years, with an initial interest rate of 3.125 percent for the first 20 years, eventually tied to the Federal funds rate, resulting in monthly payments exceeding $10,000, alongside tax responsibilities.
As for Tiffany Trump, the President's daughter from his second marriage, there is no evidence of her recent real estate investments in Florida. While she was reportedly house hunting in Miami Beach a couple of years ago, it remains unclear if she proceeded with a purchase.
The Trump family's substantial mortgage decisions underscore their commitment to Florida as their new home base. With luxurious properties situated in exclusive locations like Indian Creek Island and Jupiter, the Trump siblings are set to further solidify their presence among the elite residents of the state known for its opulent lifestyle.
It is worth noting that Donald Trump's net worth, estimated at $2.6 billion, is juxtaposed against his own $200 million debt from his portfolio of luxury real estate, resorts, and golf courses, according to a recent Forbes report.