CGI Merchant to acquire Trumps’ Washington Hotel for $375m.

CGI Merchant, a private-equity, alternative investment manager, agreed to acquire Trumps’ Washington Hotel, for $375m. The building, on Pennsylvania Avenue, is owned by the federal government. A landmark with a 315-foot clock tower that makes it the third-tallest building in Washington, the structure was home to the headquarters of the United States Postal Service until 1934 and is formally called the Old Post Office Building.