according to the Wall Street Journal, which sites “people familiar with the matter.” Per the Journal, Miami-based investment firm CGI Merchant Group will acquire the lease for the Trump International Hotel and will remove the Trump name.
CGI Merchant Group has also reportedly reached a deal with Hilton Worldwide Holdings Inc. that will see the property branded and managed by Hilton’s Waldorf Astoria Group.
The sale is expected to close in the first quarter of 2022, according to the report. A representative for CGI Merchant Group did not immediately return a request for comment on the report.
As the Journal noted, the reported sale comes as the Democratic-controlled House committees have been investigating and holding hearings on possible.
Read more on thewrap.com
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