The Donald snags The Doral

Donald Trump has acquired the fabled but faded Doral Golf Resort & Spa in Miami-Dade County for $150 million with plans to pour another $150 million into an overhaul of the 50-year-old property. The makeover of the 700-room resort and four of its golf courses includes a redesign of the ominously named Blue Monster of PGA Tour golf fame. Trump, who will take over management from Marriott International, picked up the resort in bankruptcy court. That's where hedge fund company Paulson & Co. parked the Doral after seizing five resorts around the country. The Doral sold in 2007 for $501 million.