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Trump DC hotel gets approval by federal government for sale to Miami investment fund

Donald Trump
Posted at 6:40 PM, Mar 25, 2022
and last updated 2022-03-28 12:36:23-04

Donald Trump's luxury hotel near the White House has received government approval to hand the keys to a Miami investment fund in a sale many industry experts doubted would ever go through.

The federal government agency overseeing the building said Friday that an "extensive and exhaustive" review found no problem with Trump Organization plans to sell to a fund led by CGI Merchant Group.

Investors include former New York Yankees slugger Alex Rodriguez. The $375 million price is far more than many expected for a hotel that lost tens of millions of dollars while Trump was president.

Eric Trump, the former president's son who oversees the business, declined to comment and just simply confirmed the federal government approved the closing of the deal.

New York Democratic Rep. Carolyn Maloney who chairs the House Oversight Committee said, “A sale of the Trump Hotel does not resolve the committee’s grave concerns about former President Trump’s conflicts of interest.” She went on to say, “No one is above the law.”