Donald Trump Snatches Up Virginia Winery

In: Estates|Financial

12 Apr 2011

Award-winning Charlottesville, Virginia-based Kluge Estate Winery and Vineyard was valued at over $70 million before the recession but so unfortunately lost most of its value after the financial crash.

Business mogul Donald Trump, of course, has taken advantage of the situation, purchasing the vineyard after it refused to sell at auction for the Farm Credit Bank’s opening bid of $19 million.

Trump, along with Virginia-based real estate developer Sal Cangiano, have purchased the winery at a foreclosure auction for $6.2 million, making this quite a steal.  We’ll be looking forward to see what Trump decides to do with the winery and if there’s going to be a Trump Sauvignon coming up anytime soon…

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