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Trump Organization Sells DC Hotel Lease for $375 Million
The Trump name will no longer adorn DC's Old Post Office.
The Wall Street Journal is reporting that Miami investment firm CGI Merchant Group is in contract to acquire the hotel lease at DC's Trump International Hotel for $375 million.
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"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," The Wall Street Journal said.
The sale is expected to close in the first quarter of 2022.
This article originally published at https://dc.urbanturf.com/articles/blog/trump-organization-sells-dc-hotel-lease-for-375-million/18949.
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