Friday, April 8, 2011

Donald Trump Buys Kluge Estate Winery, Trump Brand Comes to Town, and Kluge/Moses Still Owe Farm Credit Millions

The business and property lost 78% of its value in 4 years.

$34.8Million: original loan from Farm Credit to Patricia Kluge / Bill Moses in 2007/09
$19 Million: Farm Credit "buys back" Kluge Estate Vineyard at foreclosure auction in December 2010
$7.3 Million: the majority of property 750+ acres is sold to Trump for $6.2M and Loudon County developer Sam Cangione buys 100+ acres w/division rights for $1.1M, April 7 2011

"What can you say?" said Farm Credit's Bill Schmidheiser.  "The market has spoken."

Bill Moses on the deficiency judgment and working with Trump at his new vineyard here.

Trump on renaming the vineyard with the Trump Brand: "Of course, it's only Trump.  Everything is Trump."

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