Among
the noteworthy deals of the past week was BDT & MSD Partners acquiring the
rights for the Waldorf Astoria in Washington, D.C., at an auction for $100
million.
WASHINGTON, D.C. — BDT & MSD Partners, the lender for
the Waldorf Astoria in Washington, D.C., formerly the Trump International
Hotel, have acquired the property’s rights at auction for $100 million after
investor CGI Merchant Group defaulted on a $285 million loan in 2023.
CGI has stated it intends to regain control of the leasehold
and said it secured the necessary financing to cure the loan default before the
auction. About two years ago, the Miami-based investment firm paid the Trump
Organization $375 million for the rights to the hotel.
BDT & MSD said it extended the foreclosure auction date
by 45 days, but CGI didn’t cure the default in time.
To download our list of deals from the past week in Excel
format, click here.