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AP National News

Trump DC hotel gets OK to sell to Miami investment fund

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Published 3:45 PM

By BERNARD CONDON
Associated Press

NEW YORK (AP) — 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. The Associated Press has reported 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.

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