this post was submitted on 26 Feb 2024
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Miami-based CGI purchased the lease rights from the Trumps for $375 million

As Donald Trump’s real-estate empire comes under pressure from a $355 million civil-fraud verdict, one of its most recent sales looks particularly well timed.

The Trump International Hotel in Washington, D.C., was a favorite Republican meeting spot during the Trump presidency, attracting lobbyists, lawmakers and others with business before the administration. After the Trumps faced criticism that they were flouting government-ethics laws by profiting from the property, they put up for sale the long-term lease rights for the hotel in the former Old Post Office.

In 2022, the Trumps sold those rights to Miami-based investor CGI Merchant Group for $375 million—a price that was tens of millions of dollars more than the other offers, according to people familiar with the matter. CGI rebranded the hotel as a Waldorf Astoria.

This month, the new owner defaulted on a $285 million loan related to the property, according to people familiar with the matter. The missed payments on that loan reflect higher interest rates and the above-market price the firm paid the Trumps, industry executives say.

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[–] Spitzspot@lemmings.world 37 points 8 months ago (3 children)

That Trump stink hangs around awhile.

[–] Son_of_dad@lemmy.world 12 points 8 months ago (1 children)

It's the adult diapers. I worked at a nursing home so I know exactly what Trump smells like

[–] empty04@lemmy.world 3 points 8 months ago

Verified, as per Kinzinger: ”take armpits, ketchup, a butt, and makeup, and put that … in a blender”

[–] Jesusaurus@lemmy.world 11 points 8 months ago

No matter how hard you try, you just can't seem to get it out of the carpets.

[–] Potatos_are_not_friends@lemmy.world 10 points 8 months ago* (last edited 8 months ago) (1 children)

They did have to have a week of cleaning and disinfecting done when Trump left the White House.

And while we want to believe it's because of Covid, we all know it's because Dirty Donnie and his Diapers.

https://www.newsweek.com/white-house-disinfected-after-trump-exit-1553725

[–] sin_free_for_00_days@sopuli.xyz 2 points 8 months ago

The security sweep must have been intensive.