Las Vegas and Charlotte, Boston and Miami, New York City and Washington D.C. — these are some of the places President Donald Trump owns or has interests in. Since his inauguration, the White House has been home to nearly every brand of businesses Trump has opened or acquired over the past 35 years. Now, he’s announced a new source of income: selling real estate in Washington, D.C.
CNN reports Trump is selling off the Washington hotel he owns. He has purchased two other hotels in addition to the one he owns in the nation’s capital — and the eventual sale is likely to bring in at least $375 million, likely more, according to the New York Times.
Why he’s selling
Trump’s real estate development firm, DJT Development LLC, has entered into an agreement with an affiliate of Standard Hotel, which already manages the Rayburn House Office Building, a historic property in Washington, D.C. Trump National Hotel will acquire the space in 2019.
“This is the first step toward recasting myself as a hotelier and not a developer,” Trump told CNN.
Trump isn’t ditching Washington entirely — he will continue to own and operate the Washington hotel, according to CNN.
Read more: 7 things you might not know about Donald Trump