Donald Trump buys Kluge winery
April 15, 2011 - Virginia
The 800 acres, which were once owned by Virginia socialite Patricia Kluge, were purchased by a Trump representative at a bank auction.
"I'm really interested in good real estate, not so much in wine," Trump said. "This place had a $28 million mortgage on it, and I bought it for $6.2 million."
The vineyard was valued at $70 million before the recession.
Trump said he is likely to keep Kluge, 62, who has won accolades for her wines, in charge of the operation. "She has a great instinct for wine, which I don't," he said.
Some of the wines will keep the Kluge label, he says, but he didn't rule out the possibility that some bottles in the future will wear the Trump brand.
The full estate, including the Albermarle House, was listed for $100 million last year, but after failing to sell, dropped prices, and foreclosure, Bank of America bought the home last month at auction.
Via Washington Post
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