Trump Loses Millions on DC Hotel Despite 2022 Sale

The former president's $28 million loan to new owners evaporates as foreclosure hits property.

Trump sold his Washington, D.C. hotel for $375 million in 2022, walking away with $127 million.
To close the sale, Trump issued a $28 million loan to CGI Merchant Group, which later defaulted on payments.
Despite a rebranding to Waldorf Astoria, the hotel's financial troubles persisted, leading to foreclosure.
The property was auctioned in August 2024 for $100 million to BDT & MSD, the sole bidder.
Trump's loan was wiped out as it was subordinate to the primary mortgage.