Mother Jones reports that Crocus City closed their financing deal with Sberbank just days after the now-infamous Trump Tower meeting for dirt
This is incorrect. The date is July 13, 2017, and it’s not a financial deal, but a land commission approval, and it’s also for a different spot. Mother Jones refers to days after the meeting was revealed, not took place.
Mother Jones says Crocus City secured a loan($1.6 billion in 2013) back in 2013 for a variety of projects, including Trump tower, the first 3 objects to be finished in 2015. However, due to the economic crisis in Russia that started end of 2014, the construction was frozen (currently marked “under construction”, with bare skeletons on Google maps).
It makes those talks with Trump in 2015 even more intriguing. Crocus Group didn’t really have the money because of the national currency collapse and they already had too much debt. However, they could offer the TT project as a very good deal because of the exchange rates. But Trump couldn’t borrow the money from Sberbank anymore because of the sanctions from 2014. My guess, it wasn’t about the land… maybe, nobody else would give him a loan.