Sale of Trump's D.C. hotel on hold as commercial real estate industry reels
Source: Washington Post
The commercial real estate industry has ground nearly to a halt due to coronavirus shutdowns, forcing buyers and sellers of major properties, including President Trumps company, to put their plans on hold.
Trumps firm, which he still owns, has had to press pause on the proposed sale of its D.C. hotel lease due to the markets collapse as potential buyers wait for banks and investors to return normal operations. The companys sales representative, Jeffrey Davis of JLL, confirmed to The Washington Post that the proposed sale of Trumps 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.
Trumps company, now run by Donald Trump Jr. and Eric Trump, announced the planned sale in October and set a January deadline for initial bids. It is unclear how many companies are pursuing the lease, which Trump signed with the federal government before his election, although BET co-founder Sheila Johnson was among the bidders.
Read more: https://www.washingtonpost.com/business/2020/03/31/trump-dc-hotel-sale/
Grasswire2
(13,569 posts)He merely leases it and unlawfully profits from it.
I say we evict him.
turbinetree
(24,695 posts)underpants
(182,788 posts)TeamPooka
(24,223 posts)duforsure
(11,885 posts)If he stiffs them. He's stiffing us , and we own that building.
SheltieLover
(57,073 posts)orwell
(7,771 posts)...we should rename it the Trump and Dump.
IronLionZion
(45,433 posts)time to seize his properties and convert to emergency hospitals.
BumRushDaShow
(128,907 posts)but agree that may need to be converted to surge space since there would be rooms in it with separate bathrooms (something I heard mentioned during a Philly presser a few days ago as something that they were looking for with respect to facilities to use for possible surge --and hotels are a natural).
IronLionZion
(45,433 posts)BumRushDaShow
(128,907 posts)generalbetrayus
(507 posts)"Those that remained open were at a fraction of their usual capacity: Trumps hotels in Chicago, New York and Washington had all closed their bars and restaurants in response to local orders."
Please, oh please, Flying Spaghetti Monster, have something GOOD come out of the trumponavirus pandemic by driving Trump bankrupt again!