Trump “Fires” $210 Million Loan

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Michael Dezer, Donald Trump, Gil Dezer Michael Dezer, Donald Trump, Gil Dezer

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Donald Trump joined the father-son team of Michael and Gil Dezer of Dezer Properties in striking a ceremonial match to burn the Dezer’s paid-off $210 million construction loan for their luxurious Sunny Isles Beach oceanfront condominium – The Trump Royale. The event was held at the 384-unit Trump Royale, the site of the Trump Organization’s first partnership in Florida, and the last of the three towers to be built at the $750 million Trump Grande Ocean Resort and Residences.

Several hundred Trump Royale residents, special guests, and Sunny Isles Beach civic leaders attended the haute affair that culminated with Mr. Trump setting the mortgage ablaze on a stage in celebration of the development partnership’s successful venture.

“Most developers are getting burned by mortgages; we are burning ours,” said Trump, shortly before igniting the loan documents. “This is an especially proud moment because we paid off this loan in a terrible economy. We have a lot of happy people here and we have reason to celebrate.”

"Paying off this loan is a huge achievement,” added Gil Dezer, president of Dezer Properties. “A $210 million construction loan pay-off is large in any economic environment, all the more compelling in these times. Trump Royale proves that even in a bad market, great architecture, location and a strong brand will reap success. We thank you for putting your trust in us.”

Focused on the intrigue of fire, the evening featured electrifying performances by fire dancers, fiery tasting stations of spicy international delicacies and mini, hot stone spa treatments. Guests cooled off inside with a champagne and caviar display before proceeding to the Trump Royale’s spa level for dancing, socializing and rubbing shoulders with Mr. Trump well into the night.

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