Trump Control of D.C. Hotel Is Threatened by Fine Print in Lease
Kevin Fullington was quoted in Bloomberg regarding lease deal provisions in a D.C. hotel that Trump controls as majority owner.
The 60-year lease for the former post office pavilion bars any government official from being part of the lease, furthering questions around conflicts of interest for the President-Elect. Kevin notes that selling the lease before Trump becomes president would be "close to impossible.” However, Trump and his family could alter the terms of the operating agreement for Trump Old Post Office LLC to eliminate his ownership of the lease "in a day, if they wanted to," he added. Fullington noted that the hotel lease language may actually be more flexible than it appears because it says "shall be admitted." That could be interpreted to mean not that Trump needs to walk away from the lease but that no elected official could be added as a new beneficial owner in the future. "That’s not a slam-dunk argument, but it’s one that’s credible," he said.