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Trump has signed a $1 billion deal with the Veterans Affairs Department to buy up to 1,000 properties in the United States and Canada, with the intention of turning them into luxury properties.
The president has already acquired more than 1,600 properties since taking office, according to a White House official.
The president’s executive order announced the deal Wednesday said the deal would «reduce the total number of veterans in our nation’s military by nearly 3,500 and bring home nearly $700 billion in economic growth and savings over 10 years.»
Trump has also made other acquisitions in the past, including the sale of a golf course to Chinese billionaire Wang Jianlin and the purchase of an apartment in New York.
The deal is expected to bring in more than $700 million for the government and will be funded through tax-free donations from foreign governments, according the White House.
The White House has said the funds would also be used to «strengthen our national security and veterans’ infrastructure.»
The Department of Veterans Affairs says it expects the agreement to generate as much as $10 billion in additional tax revenue over the next five years.
The Department of Housing and Urban Development and the Treasury Department have also approved the deal.