Get all your news in one place.
100's of premium titles.
One app.
Start reading
The Economic Times
The Economic Times
National
Advaita Suresh

A $375 million ground lease transformed Washington's Old Post Office into a Waldorf Astoria; 2 years after acquisition, foreclosure ended the investor's control of the property

Major real estate projects can reshape the identity of a landmark property while also reshaping the financial fortunes of the investors behind them. The shift of Washington, D.C.’s Old Post Office building into a Waldorf Astoria is one such. What started as a significant acquisition that involved CGI Merchant Group and the Trump Organization finally became a significant investment for Miami-based investor Raoul Thomas and his company.

A Major Hotel Investment

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.