News
No Takers For Toronto’s Trump Tower
Toronto's Trump International Hotel & Tower, which went on the block in January with bids starting at $298M, received no offers by the initial deadline, Reuters reports. Receiver FTI Consulting Canada, via CBRE, is handling the sale of the 65-storey building’s 211 hotel rooms; 74 residential units; and retail, including a spa, a bar and a restaurant. With no nibbles, the hotel’s ownership will likely fall to the project’s main debt-holder, JCF Capital ULC, which last fall bought the $301M owed on the tower’s construction loan, then initiated the sale. A sale-approval hearing is slated for March 30.
