Donald Trump and the Doral Golf Resort
Donald Trump‘s company has signed a deal to buy the Doral Golf Resort for $170 million, according to sources familiar with the matter. It marks a shift for Trump, and would be the company’s largest real estate investment in the United States since the recession. While the deal isn’t finalized, it means Trump is the lead bidder on the project, which is being sold by a joint venture of Paulson & Co. and Wintrhop Realty Trust. The Donald’s strategy in recent years has been to avoid borrowing and derive income from licensing his name on other projects, like several in Miami. The company would spend $150 million on improvements if awarded the resort, according to sources. [WSJ]