Donald Trump's luxury hotel near the White House, which drew diplomats, lobbyists and plenty of controversy while he was president, received government approval Friday to hand the keys to a Miami investment fund, a last hurdle to a sale that many industry experts doubted would ever go through.
The federal government agency overseeing the building said 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 that investors include former New York Yankees slugger Alex Rodriguez. The $375 million price tag is far more than many expected for a hotel that lost tens of millions of dollars while Trump was president.
