The Trump Organization has reached an agreement to sell its lease for the Trump International Hotel in Washington, D.C., for $375 million, people familiar with the matter told The Wall Street Journal.
The Miami-based investment firm CGI Merchant Group is set to acquire the lease, and has reached a deal with Hilton Worldwide Holdings to remove the Trump name and rebrand the property as a Waldorf Astoria, the Journal reports. Once a post office, the property is owned by the federal government, and the lease is for nearly 100 years.
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