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Trump Organization gets government approval for DC hotel sale

Trump Organization gets government approval for DC hotel sale


The Trump Organization came one step closer to officially unloading their famed hotel in the nation’s capital.

The federal government officially gave the green light to sell the Trump Hotel to CGI Merchant Group, a Miami investment firm. The hotel is in Washington D.C.’s historic Old Post Office building.

The Trump Organization does not own the building, and is instead selling the rights to a long term lease it has secured for the property from the federal government.

The sale price is expected to be $375 million.

Former President Donald Trump’s organization does not own the building.
AP

The new owners plan to keep the building as a hotel — sans the Trump name — and rebrand the property as a Waldorf Astoria, which is owned by Hilton.

With Post Wires



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