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Trump Organization, Led by Eric Trump, in Talks to Repurchase Former D.C. Waldorf Astoria for Over $300 Million

Jan 10, 2025, 04:47 PM

The Trump Organization is in early talks to repurchase the lease on its former Washington, D.C., hotel, a move that could serve as an early test of how President-elect Donald Trump will handle potential conflicts of interest upon returning to the White House. Eric Trump, an executive vice president of the Trump Organization, met with the bank that now controls the lease on the property. The hotel, located in the historic Old Post Office building on Pennsylvania Avenue, was sold by the Trump Organization in 2022 to CGI Merchant Group, which transformed it into a Waldorf Astoria. However, CGI defaulted on its debt, leading to the property being taken over by its lender, BDT & MSD Partners, through a foreclosure auction. The Trump Organization may need to pay more than $300 million to reacquire the lease, according to sources familiar with the property's operations and revenue. The hotel became a focal point for criticism during Trump's first term, with concerns raised about the mixing of his business and political interests.