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THOUGHTS & PRAYERS! Sale of Trump's D.C. hotel on hold as commercial real estate industry reels
Sale of Trump’s D.C. hotel on hold as commercial real estate industry reels
Commercial real estate owners including the president likely to see tax benefits from stimulus package as sales stagnate
https://www.washingtonpost.com/business/2020/03/31/trump-dc-hotel-sale/
The commercial real estate industry has ground nearly to a halt due to coronavirus shutdowns, forcing buyers and sellers of major properties, including President Trump’s company, to put their plans on hold.
Trump’s firm, which he still owns, has had to press pause on the proposed sale of its D.C. hotel lease due to the market’s collapse as potential buyers wait for banks and investors to return normal operations.
The company’s sales representative, Jeffrey Davis of JLL, confirmed to The Washington Post that the proposed sale of Trump’s lease to the federally owned Old Post Office Pavilion has been set aside as the industry recovers.
“We have toured only the most discerning buyers and are proud to be representing such an iconic asset,” he said. "Trump International Hotel, Washington D.C. is one of the finest hotels anywhere in the world and we look forward to working with the Trump Organization on finding the right fit once the industry is back up and running.”
Commercial real estate owners including the president likely to see tax benefits from stimulus package as sales stagnate
https://www.washingtonpost.com/business/2020/03/31/trump-dc-hotel-sale/
The commercial real estate industry has ground nearly to a halt due to coronavirus shutdowns, forcing buyers and sellers of major properties, including President Trump’s company, to put their plans on hold.
Trump’s firm, which he still owns, has had to press pause on the proposed sale of its D.C. hotel lease due to the market’s collapse as potential buyers wait for banks and investors to return normal operations.
The company’s sales representative, Jeffrey Davis of JLL, confirmed to The Washington Post that the proposed sale of Trump’s lease to the federally owned Old Post Office Pavilion has been set aside as the industry recovers.
“We have toured only the most discerning buyers and are proud to be representing such an iconic asset,” he said. "Trump International Hotel, Washington D.C. is one of the finest hotels anywhere in the world and we look forward to working with the Trump Organization on finding the right fit once the industry is back up and running.”
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