Former President Trump’s hotel in Washington, D.C. sold for $375 million

2022-05-14 01:59:37 By : Ms. Kristine Zong

Trump International Hotel based in Washington, D.C. has recently been sold for $375 million. The property has garnered controversy due to potential conflicts of interest during Donald Trump’s presidency.

DONALD TRUMP: What I do best is build, believe it or not-- better than The Apprentice, better than politics. I build. That's what I do best.

The business owned by the family of former President Donald Trump bought the rights in 2013 to the hotel, housed inside in the historic Old Post Office Building blocks away from the White House, and renovated it. In March, the U.S. General Services Administration, which acts as the federal government's landlord, approved the sale of the rights by the Trump Organization to Miami-based CGI Merchant Group. Trump is projected to gain $100 million from the transaction.

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STORY: The Trump Organization has sold its D.C. hotelfor a record-setting $375 millionto Miami-based CGI Merchant GroupThe firm plans to rebrand the property as a Waldorf Astoria hotelDonald Trump is projected to gain $100 million from the transactionThe Trump International Hotel served as a gathering pointfor Trump’s supporters and some foreign government officialsduring his time in the White HouseIt became the focus of conflict of interest allegationsagainst Trump and his family during his presidencyCritics say outside entities tried to curry favor with Trumpby booking stays and spending money at the hotel

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The Trump International Hotel in Washington, D.C., is no more.

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Workers could be seen dismantling the Trump International Hotel's sign on Wednesday night after a Miami investment group bought the lease.

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