CGI Merchant Group Acquires 263-Key Hotel In Washington, D.C. From The Trump Org For $375M
SOLD
$375,000,000
District Of Columbia
See Similar DealsHotel
Sold 11/16/2021
SOLD
CGI Merchant Group Acquires 263-Key Hotel In Washington, D.C. From The Trump Org For $375M
1100 Pennsylvania Avenue Northwest, Washington, D.C., Usa
See Similar DealsHotel
Sold 11/16/2021
Summary
Asset Type:Hotel
Transaction Type:Sale
The 263-key hotel located at 1100 Pennsylvania Avenue NW in Washington, D.C. is currently in contract for sale. The property is being sold by The @Trump Org and the buyer is CGI Merchant Group, represented by Raoul Thomas. The transaction is being facilitated by @Newmark.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $375,000,000
Donald Trump Jr., President Donald Trump, Ivanka Trump, Raoul Thomas, and Eric Trump were present in an image shared on Instagram to mark the significance of the deal. CGI Merchant Group plans to remove the Trump flag from the former post office building and replace it with the prestigious @WaldorfAstoria brand.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$19,999,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$1,332,295.80
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,777,691.32
Annual Debt Service$21,332,295.79
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