Ivanka Trump and her husband Jared Kushner reportedly borrowed $15 million for a $24 million property they own in Florida.
The former president's daughter and her husband obtained a Bank of America loan on their property on Miami Beach's Indian Creek Island, which they purchased in April 2021, according to the Daily Mail. The loan was reportedly obtained through an LLC linked to Kushner's general counsel, Christopher Smith.
Newsweek has not been able to immediately verify the details of the report and has contacted representatives for Trump via email for comment.
The six-bedroom and eight-and-a-half-bathroom home's renovation was completed last month. Indian Creek Island is also known as "Billionaire Bunker" and is home to other famous figures like Amazon founder Jeff Bezos and retired NFL star Tom Brady. The island has 34 homes, 42 residents and its own police force.
Most of the Trump family relocated to Florida after Donald Trump lost the 2020 election. The former president resides at his Mar-a-Lago resort in Palm Beach with wife Melania Trump and their teenage son, Barron.
The former president's son, Eric Trump, and his wife Lara bought a $3.2 million estate in celebrity-friendly Jupiter in March 2021. It comes with a $2.4 million mortgage from Valley National Bank.
Donald Trump Jr. and his fiancee, Kimberly Guilfoyle, also purchased a $9.7 million property in Jupiter the same month with a $4.8 million mortgage through Valley National Bank.
It comes amid wider scrutiny of the Trump family property portfolio. The former president has raised questions over the value of his Mar-a-Lago resort with some experts claiming it is worth less than he has said.
The president is facing a $250 million civil fraud trial in which he and his adult sons, Eric and Donald Jr. are accused by New York Attorney General Letitia James of inflating the value of his assets to secure financial benefits such as more favorable loan terms. Trump has denied wrongdoing.
Judge Arthur Engoron, who is overseeing the civil trial in New York, has already ruled that Trump had committed fraud by misrepresenting the value of his properties for years. The civil trial is now considering six remaining allegations in James' lawsuit, as well as the size of the penalty.
Speaking on a podcast hosted by Mary Trump, the niece and frequent critic of the former president, attorney Joe Gallina suggested Trump could lose Mar-a-Lago as part of damages he will have to pay.
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Kate Plummer is a Newsweek reporter based in London, U.K. Her focus is on U.S. politics and national affairs, and ... Read more
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