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
$375,000,000
Building Size
—
Asset Type
Hotel
Closing
Nov 15, 2021
AI
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.
Washington Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93