Trump’s finances could get ‘dicey’ before 2024 race as $340M in loans expire on 'struggling' properties: report
Composite image of Trump International Hotel and Tower (company photo) and Donald Trump on CNN (screengrab).

Former president Donald Trump may face some personal financial challenges in the run-up to the 2024 election, when he could seek to recapture the White House.

"The real estate mogul should have no problem paying back his loans in the short term. But come 2024, when he might be running for president again, things could get dicey," Forbes reported Thursday.

That's because Trump has loans totaling $340 million that will come due in 2023 and 2024 on properties that aren't performing well, according to the magazine.

Earlier this week, Forbes reported that Trump had fallen off the magazine's list of America's 400 richest people for the first time in 25 years.

Trump currently has an estimated $1.3 billion in total debt, which is $200 million more than when he left office in January, Forbes reported. However, Trump's finances are actually "in better shape" now because he and business partner Vornado Realty Trust were recently able to refinance a San Francisco office building and extract $616 million in cash — increasing their debt but also boosting the former president's liquidity.

Forbes suggests that Trump may need the cash as a $100 million loan comes due in 2022 on the commercial space inside Trump Tower, which was recently placed on a debt watch list due to low occupancy rates. Trump Tower tenants, including Ivanka Trump's shoemaker, have reportedly racked up $1.5 million in unpaid rent.

Even if Trump isn't able to get a new loan for the Trump Tower space, he could theoretically pay it off and then replenish his cash by refinancing another building, the 1290 Avenue of the Americas skyscraper, when a $285 million loan on that property comes due a few months later.

"Doing so would provide the former president with some additional breathing room heading into 2023, when he has two loans with a combined original principal of $125 million coming due against Trump Doral, a golf resort in Miami," according to Forbes. "That property has struggled recently, so it could be challenging to refinance. Same goes for Trump's hotels in D.C. and Chicago, which have an estimated $215 million of Deutsche Bank debt expiring in 2024."

"Put it another way: The more cash Trump can stockpile now, the safer he'll be then—even if that means increasing his debt load in the meantime," the magazine reported.