Waldorf Astoria, former Trump International Hotel in D.C., could be sold at foreclosure auction

The Waldorf Astoria hotel, located at the Old Post Office building near the White House in Washington, D.C., might be sold in a foreclosure auction next month.

The hotel owner, CGI Merchant Group, defaulted on its mortgage 3 months ago, according to the Wall Street Journal.

A foreclosure filing indicates that an auction is scheduled for June 20 at Alex Cooper Auctioneers.

“CGI is engaged in productive discussions with the property's manager, Hilton, and several other parties who want to reach a consensual financing solution that reflects the realities of today’s challenging, rising rate environment, MSD’s unilateral decision to file a foreclosure notice is inconsistent with the discussions and possibly invalid,” CGI said in a statement, according to Biznow. “Although our goal is to continue advancing constructive negotiations with all parties, including MSD, we're prepared to take all necessary steps to protect the rights of CGI and its partners."

The Old Post Office building is still owned by the federal government and leased by the hotel operator. The Waldorf Astoria was previously the Trump International Hotel. CGI Merchant Group reportedly paid $375 million for the hotel in 2022.