X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.