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