Trump Organization sells DC hotel for $375 million

Washington Examiner

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The Trump name is checking out of Pennsylvania Avenue for a second time with the sale of former President Donald Trump’s luxury hotel lease in Washington being finalized Wednesday.

CGI Merchant Group, a Miami-based investment manager, bought the lease of Trump International Hotel for a “record-breaking” $375 million from the Trump Organization and plans to turn the property into a Waldorf Astoria hotel in partnership with Hilton.

“Proud to announce the record-breaking sale of the Trump D.C. The transaction marks the highest price per key ever achieved in Washington D.C., the highest price per key in U.S. history for a leasehold interest, and the largest sale of a historic hotel in over 15 years,” Eric Trump, one of the former president’s sons and executive vice president of the Trump Organization, tweeted Wednesday.

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