Alex Rodriguez and Miami-based investors group buy the luxurious Washington DC Hotel from Trump Organization for a whopping $375 million
Former New York Yankees legend Alex Rodriguez is among the Miami-based businessmen who just purchased the Trump Organization's opulent Washington, DC hotel for a whopping $375 million. During Donald Trump's presidency, the Washington DC Hotel became a hotspot for the Republicans and often lured congressmen and lobbyists. The Trump Organization, which is run by ex-president Donald Trump's family, handed over the long-term lease of the Trump International Hotel to CGI Merchant Group of Miami on Wednesday.
JUST POSTED: Trump Hotel in DC is no more. End of a mini era in DC history. The sale of the hotel has closed to a new buyer that will turn it into Waldorf Astoria. The hotel is now closed too until turn over to Waldorf is complete. nytimes.com/2022/05/11/us/…
"Trump Hotel in DC is no more. End of a mini era in DC history. The sale of the hotel has closed to a new buyer that will turn it into Waldorf Astoria. The hotel is now closed too until turn over to Waldorf is complete." -@Eric Lipton
In 2013, the US government leased the Washington DC Hotel to Trump's real estate company. The Trump Organization then invested $200 million in the structure's renovation.
Soon-to-be-former Trump Hotel DC when it was U.S. Post Office building, 1907: https://t.co/Glruzw3UrS
"Soon-to-be-former Trump Hotel DC when it was U.S. Post Office building, 1907." - Michaeal Beschloss
After the $375 million on Wednesday, the Trump Organization has generated a profit of, at least, $100 million. After the sale of rights, another agreement was reached between the Miami-based investment firm and Hilton Worldwide Holdings to rebrand and manage the Washington DC Hotel as Waldorf Astoria.
"The Trump International Hotel in Washington, DC is now officially out of business after the Trump family on Wednesday completed its sale to a Miami investor group, which plans to reopen it as a Waldorf Astoria," The New York Times reported Wednesday. https://t.co/k7X64N4QtQ
"The Trump International Hotel in Washington, DC is now officially out of business after the Trump family on Wednesday completed its sale to a Miami investor group, which plans to reopen it as a Waldorf Astoria," The New York Times reported Wednesday." - @Timothy Turner
According to reports, the new owners promptly erased Trump's name after signing the lease.
The new owners of the Old Post Office removed Trump’s name immediately. Goodbye to the abomination! https://t.co/UCOhx8FbmP
"The new owners of the Old Post Office removed Trump’s name immediately." -@Joe Flood
Unstoppable Alex Rodriguez: From hitting home runs in MLB to gaining success as an entrepreneur
Alex Rodriguez is best known as the legendary New York Yankees player. After retiring from professional baseball in 2016, the star is now working on a very different kind of hitting streak — one that's helping him realize his new business goals. Currently, Alex Rodriguez owns A-Rod Corp, an investment firm, and is the minority owner of an NBA team, the Minnesota Timberwolves. Alex Rodriguez also owns Florida's UFC GYM workout establishments. As per the latest reports, Alex Rodriguez now owns the Washington DC Hotel as a general partner of the CGI Merchant Group of Miami.