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Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ US https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ The Trump Organization says it is considering selling a hotel lease to D.C.

The Trump Organization says it is considering selling a hotel lease to D.C.



Trump's Washington Hotel has been the center of controversy since he took office. Trump continues to own a property management business, including a hotel, leading to allegations of conflicts of interest. Several lawsuits allege that Trump violates the Constitution's ban on "pay" or payments from foreign governments when foreign government officials visit the hotel.

The company rents the building, the Old Post Office, from the General Government Services Administration (GSA), but the terms allow the sale of the lease under certain conditions.

Trump's son Eric Trump told the Wall Street Journal, which first reported the sale, "People object to us making so much money for the hotel, and therefore may be inclined to sell. Trump Organization officials and JLL declined to comment.

The President recently raised the question of whether foreign spending at the hotel violates the Constitution as a "false remuneration clause. "His speech was part of a discussion about his decision to hold the 2020 Global Leaders Group meeting at his Trump Doral Miami Golf Resort in Florida. Days after announcing the plan, the White House reversed course, following criticism across the political spectrum.

Opening weeks before Trump won the 201

6 election, the hotel has become a popular spot for clients and clients, consistent with presidential policies and a place for Republican fundraising campaigns, Christian convention groups, and conservative authors for hosting book parties. Members of Trump's cabinet have often been spotted there, and Trump has visited there 23 times as president, according to the Citizens for Accountability and Ethics Watch in Washington.

But the property has also suffered from the unwillingness of many major corporations, i. embassies and associations to book business there, narrowing down the group of candidates to fill the hotel's massive hall and its 263 guest rooms.

Hotel deals with foreign governments have led to numerous lawsuits, congressional investigations and investigations. In three lawsuits that wander through the federal court system, plaintiffs allege that Trump violates the foreign wage clause of the Constitution, which prevents the president from accepting gifts or payments from foreign governments.

The plaintiffs in the cases repeatedly cite cases in which government officials – from Kuwait, Saudi Arabia, Malaysia and other nations – have booked a hotel business. The judge in a case in which the Attorneys General from DC and Maryland sued the president narrowed his arguments to the Trump Hotel in DC.

Justice Department attorneys argue in court that the president cannot be charged with a crime while in office and that the president does not violate the Constitution by charging market rates to foreign governments. The Trump Organization has also donated money to the US Treasury Department for the past two years, with money it says equates to the profits it has received from foreign governments and political leaders.

House Democrats look more aggressively at the hotel project, the House Committee, which runs the GSA, issued a summons to the agency's financial records, legal notes and correspondence on Thursday, including materials related to any communications between GSA and Trump, Donald Trump, Jr., Ivanka Trump or Eric Trump.

Rep. Peter DeFazio (D-Ore.), Who issued the call, issued a statement Friday calling the sale a "good place to start" in addressing ethical issues, but said he was "skeptical that this latest development is not an attempt to make a huge profit that directly benefits the Trump family, so I will closely follow this marketing experience. "

When Trump was bidding on the deal in 2012, he told The Washington Post that he planned to hold it for the long term.

"We will not sell any of the real estate," Trump said by mail. The following year, he signed a 60-year lease with three ten-year options for the building, giving control of his company. over the property to 2103.

Ivanka Trump, then CEO of her father's real estate company, and now a senior adviser to him at the White House, so coveted the building that she once offered GSA employees that her daughter, Arabella Rose, then not yet 5 months old, oo

The Trump company is allowed to sell the lease under certain conditions and with the approval of GSA, according to the leasing documents. The company was required to maintain the lease for a "minimum retention period", but GSA did not disclose how long that period was.

Because the sale will be made while Trump is in office – rather before he takes office in the way previous presidents have sold private interests – each transaction may have its own ethical issues. For example, foreign investors and sovereign wealth funds often acquire real estate in the United States, especially hotels that may raise concerns about the size of the foreign pay clause. [19659002] Because GSA would have to approve the deal while Trump is president, critics may raise questions about whether taxpayers are getting a fair deal.

A spokesman for GSA did not respond to requests for comment. that they have provided thousands of documents to the Chamber's committee and that the court must determine whether violations of foreclosures have been committed.

It is difficult to determine how well a hotel performs and what role it might play in a sales survey decision. Financial information on other Trump-branded properties in New York and Chicago shows signs of a downturn in business since Trump took office, but GSA has not released financial information on DC properties.

Trump has a huge financial stake in the project. He beat 10 other competitors to win the deal by proposing to spend $ 200 million to renovate the building, far more than some other bidders were prepared to offer. He borrowed $ 170 million from Deutsche Bank to do it. According to him, his company is now looking for a sale price of about $ 500 million.


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