WASHINGTON — The Trump Organization has reached a deal to sell its landmark hotel in Washington, D.C., for at least $375 million, according to the Wall Street Journal.
Former President Donald Trump’s family enterprise reached a deal to sell the lease on its Trump International Hotel Washington, D.C. to CGI Merchant Group, a minority-owned real estate investment group based in Miami.
CGI will remove the Trump name from the property and is in talks to replace it with the Hilton’s Waldorf Astoria brand, according to the Journal. The sale is expected to close in the first quarter.
The Trump Organization and CGI did not respond to a request for comment.
The hotel is housed in the Old Post Office building on Pennsylvania Avenue in downtown, with a clear view of the Capitol and blocks away from the National Mall and White House.
While the federal government technically owns the building, the complex’s 2012 lease is extended for nearly a century. Monthly rent on…