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POTOMAC FALLS, VA-New York developer and business man Donald Trump has made his first significant real estate investment in the DC area with the acquisition of the Lowes Island Golf Club here. Trump, and his son Eric, were on hand yesterday at the club to announce the deal’s closure. Trump officially takes ownership of Lowes Island today. Its name is changing to Trump National Golf Club, Washington, DC.

Trump did not give the acquisition price–other than to say it was “a lot.” He also indicated to the audience that there are no other similar deals in the immediate pipeline. He paid for the club in cash, according to a spokeswoman. He acquired it from Bethesda, MD-based Chevy Chase Bank, which had put the exclusive club on the market last year, reportedly asking for $18 million.

Trump National Golf Club is comprised of two courses built by Tom Fazio and Arthur Hills, respectively, that are being redeveloped. The courses are located on over 600 acres fronting the Potomac River. Improvements include lengthening the tees, enlarging bunkers, and creating new and faster greens. Other upgrades include a new clubhouse with expanded dining space and a 10,000-square-foot banquet ballroom. Tennis and swimming facilities will be renovated as well.

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