Boston Condos for Sale
Ex Pres. Trump: Selling the Trump International Hotel lease.
Donald Trump is set for his second exit from Washington, D.C., as CGI Merchant Group is reportedly in contract to buy the Trump International Hotel lease.
The Miami-based investment firm, helmed by Raoul Thomas is in contract to buy the hotel lease for $375 million, according to the Wall Street Journal.
The firm was reported last month to be close to buying the lease for more than $370 million. The deal is expected to close in the first quarter of 2022.
Trump International Hotel in Washington, D.C. (Getty)
CGI’s purchase on Pennsylvania Avenue ends a tumultuous decade for the Old Post Office building. The Trump Organization in 2012 won approval to redevelop the site, beating out Marriott and Hilton. In leasing from the General Services Administration, the company agreed to spend an estimated $200 million renovating the property.
