Trump Organization offered to sell its Washington, DC hotel for up to $400 million

 

Trump Organization offered to sell its Washington, DC hotel for up to $400 million to a Miami investment firm founded by Biden and DeSantis donors

The Trump Organization is said to be close to a deal to sell its Washington, DC hotel for between $370 and $400 million

$400 million would represent nearly double the money the Trump family business spent converting the government building into a luxury residence.

Since 2016, the hotel has reportedly lost more than $70 million, which required Trump to inject $24 million in aid from other companies.

The Trump Organization is close to a deal to sell its Washington, DC hotel for between $370 and $400 million.

If the deal brings in $400 million, it will represent nearly double the money spent by former President Trump's family business to convert the government building into a luxury residence.

Merchant Group, a Miami-based investment firm, talks to obtain the lease. The federal government owns the property as the hotel is located in the former old post office, but the lease may last up to 100 years.

CGI has also discussed removing Trump's name from the residence with hotel operators, including luxury brand Hilton Waldorf Astoria.

The Trump Organization is close to a deal to sell its Washington, DC hotel for between $370 and $400 million.

If the deal brings in $400 million, it will represent nearly double the money spent by former President Trump's family business to convert the government building into a luxury residence.

Since 2016, the hotel has reportedly lost more than $70 million, which required Trump to inject $24 million in assistance from other companies. The Trumps questioned such findings.

CGI Merchant Group founder and CEO Raul Thomas donated to Biden and Democrats in 2020, but more recently to Governor Ron DeSantis' campaign committee

CGI founder and CEO Raul Thomas donated $72,000 to Joe Biden and the Democratic Party in the 2020 election but recently gave $25,000 to Florida Governor Ron DeSantis' campaign committee.

And he donated to former President Obama in 2008 and Hillary Clinton in 2016.

Last month, he donated $2,900 to PAC' Becker for Arizona to elect Republican Representative Nina Baker to the House of Representatives in 2022.

CGI owns and invests in several hotels, apartment buildings, and other commercial properties.

Trump's latest reveal, which covered the entire year of 2020 and the first few weeks of 2021, showed that the hotel had taken a massive hit from shutdowns due to the coronavirus pandemic. Revenues from the hotel fell to $15 million, compared to $40 million in 2019.