The Trump Organization has completed its purchase of the Doral golf resort and spa for $150 million, the company announced Monday.
Trump purchased the resort from hedge fund Paulson & Co. and Winthrop Realty Trust after Doral was among five resorts placed in Chapter 11 bankruptcy protection in February 2011. In October 2011, Trump submitted a bid for the resort valued at $170 million. Morgan Stanley subsidiary CNL Hotels & Resorts Inc. previously owned the resort, purchasing it for $501 million in 2007.
Trump acquires four of the resort’s five golf courses. The Greg Norman-designed Great White course is not a part of the acquisition. Trump has hired desi.....
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