Trump's company to sell D.C. hotel lease for $375 million, report says

[mahatmakanejeeves]

{edited to add the link to the article in The Wall Street Journal.}

Business

Trump’s company to sell D.C. hotel lease for $375 million, report says

The Trump Organization has been in discussions to sell the lease to Miami investment firm CGI Merchant

By Jonathan O'Connell
Yesterday at 6:23 p.m. EST

Former president Donald Trump’s real estate company plans to sell the federal lease to its luxury D.C. hotel to Miami-based CGI Merchant Group, according to a report Sunday in the Wall Street Journal.

The Trump Organization, which leased the Old Post Office property beginning in 2013, has been in discussions with CGI Merchant about selling the lease, according to two people who spoke to The Washington Post on the condition of anonymity because of the private nature of the discussions. CGI Merchant signed a contract to buy the lease for $375 million, according to the Journal, citing anonymous sources.

Representatives for the Trump Organization and the General Services Administration, which manages the lease, did not immediately return requests for comment. The Post could not immediately confirm that the companies had signed a contract.

{snip}

Shayna Jacobs and David A. Fahrenthold contributed to this report.

By Jonathan O'Connell
Jonathan O'Connell is a reporter focused on business investigations and corporate accountability. He has covered economic development, commercial real estate and President Donald Trump's business. He joined The Post in 2010. Twitter https://twitter.com/jocwapo

[Historic NY]

1. Interesting where is the Federal Government on this lease...

crickets.

[gab13by13]

4. Doing due diligence so as to not appear partisan.

[gab13by13]

2. I thought he was selling it to Hilton?

Is that who CGI Merchant group is, or is it a group of American oligarchs, or foreign affiliated?

[mahatmakanejeeves]

5. I didn't notice that the article referred to an earlier article in TWSJ.

Here is an excerpt from that.

I know; it's the lease he's selling, not the hotel. Take it up with TWSJ.

WSJ scoop: Donald Trump’s family has reached an agreement to sell the rights to its Washington, D.C., hotel for $375 million. New owner will take down TRUMP name and rebrand the luxury property as Waldorf Astoria https://wsj.com/articles/trumps-selling-prized-washington-d-c-hotel-for-375-million-11636923944?st=j8e112czb6mf3sh&reflink=desktopwebshare_twitter via
@WSJ

Link to tweet

WSJ NEWS EXCLUSIVE | REAL ESTATE

Trumps Selling Prized Washington, D.C., Hotel for $375 Million

CGI Merchant Group, a Miami-based investment firm, is in contract to acquire the hotel lease for the Trump International Hotel

By Craig Karmin
https://twitter.com/CraigKarmin
[e-mail]
Updated Nov. 14, 2021 8:43 pm ET

Donald Trump’s family hotel company has reached an agreement to sell the rights to its Washington, D.C., hotel for $375 million, according to people familiar with the matter.

CGI Merchant Group, a Miami-based investment firm, is in contract to acquire the hotel lease for the Trump International Hotel, which is located a short walk down Pennsylvania Avenue from the White House. CGI intends to remove the Trump name, and it has reached a deal with Hilton Worldwide Holdings Inc. to have the property branded and managed by Hilton’s Waldorf Astoria group, these people said.

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[Botany]

3. Trump's company to sell D.C. hotel lease for $375 million, report says

Last edited Mon Nov 15, 2021, 08:12 AM - Edit history (1)

aka Trump will not run for POTUS in 2024

either that or some crooks are finding a way to get TFG some money.

I wonder of that 375 million how much does TFG owe to the banks?

[viva la]

6. I used to have some of my IRA

In their CGM realty fund. I guess now they are into bailing out corrupt trumps.

[Walleye]

7. Do you think the chumps are finally going to realize that he's not going to be president again?

[mahatmakanejeeves]

8. $375 million is more than enough to cover what he owes ⁦Deutsche Bank.

David Fahrenthold Retweeted

Trump selling prized DC hotel for $375 million — more than enough to cover what he owes ⁦
@DeutscheBank
⁩ on the building.

Link to tweet