The MSM confusingly states that bond issuers seek cash rather than property assurance from Trump. Of couse if Trump had the cash he wouldn't need bonds so the MSM take on this is meaningless.
If I were issuing a bond, a leon/mortgage on a solid sellable property would be fine.
What wouldn't be fine is a bond covered by lots of small part shares in multiple variously mortgaged properties all over the place. The value of these parcels may add up to $435m + a contingency but redeeming that value with interest could be a difficult and stretched out tooth pulling exercise.
