The Real Deal Miami

Trump gets Doral discount

December 07, 2011 03:34PM

Doral Golf Resort and Donald Trump

Donald Trump ultimately paid $150 million for the Doral Golf Resort in Spa, a $20 million discount from the announced price in October. Trump’s initial offer was $170 million, but five resorts foreclosed upon by Paulson & Winthrop Realty Trust (of which Doral was one) agreed not to seek court approval of their sales until Trump’s due diligence period lapsed, which occurred at the end of last month. At that time, Trump signed a new deal for $150 million. [Miami Herald]