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Alex Rodriguez is making a major real estate investment in one of the most controversial properties in the U.S.
The baseball star-turned business mogul is a lead investor in a group buying the Trump International Hotel in Washington, D.C.
The property is being purchased for $375 million by a fund launched by CGI Merchant Group, which A-Rod joined in December 2020.
- The $650 million Hotel Opportunity Fund targets properties with values devastated by the pandemic with the intention of rebranding them. The D.C. hotel will scrub the Trump name and be managed by Hilton’s Waldorf Astoria group.
- Rodriguez has been involved in real estate since 2003 when he founded Monument Capital Management, which has made over $750 million in property acquisitions across 14 states, according to its website.
- The star player signed a record 10-year, $252 million contract with the Texas Rangers in December 2000 and made $399.3 million over his playing career — the most in MLB history.
Wolf Pack
The “Shark Tank” panelist and ESPN television analyst purchased the Minnesota Timberwolves and Lynx with tech entrepreneur Marc Lore for $1.5 billion last year.
Prior to that, the duo made a failed bid for the New York Mets.
A-Rod’s SPAC, Slam Corp., called off a deal to merge with sports card and collectibles company The Panini Group at a valuation north of $3 billion, after Panini did not renew licensing deals with the NBA and NFL.
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