Trump real estate company nearing sale of Washington hotel lease, report says
The Trump International Hotel Washington, D.C., that sits in the Old Post Office just blocks from the White House soon might not bear the name of the former president.
Former President Donald Trump's family company is nearing a deal to sell the rights to the hotel to the Miami-based investment company CGI Merchant Group, according to the Wall Street Journal.
The Journal cites unnamed sources who say the deal would be worth more than $370 million and could push near $400 million. CGI has discussed using another hotel brand and removing Trump's name, according to the report.
The federal government owns the Old Post Office building, just blocks from the White House at the corner of Pennsylvania Avenue and 12th Street NW, which Trump's family company converted into a hotel through a lease deal struck in 2012.
A House committee is examining the terms of that lease among broader inquiries into Trump's business deals and conflicts of interest.
Trump's company considered selling the lease in 2019 after allegations that foreign officials stayed at the hotel to curry favor with the then-president.
This article originally appeared on USA TODAY: Trump nears sale of Washington hotel in Old Post Office, report says