Money Toronto’s Trump Tower up for bids starting at $298 million

10:50  12 january  2017
10:50  12 january  2017 Source:   Toronto Star

Reality TV's Omarosa hired for Trump's White House outreach

  Reality TV's Omarosa hired for Trump's White House outreach WASHINGTON - Omarosa Manigault is getting hired. A memorable contestant in the first season of "The Apprentice," Manigault is expected to join President-elect Donald Trump's White House staff, according to two people familiar with the decision. Her job is expected to focus on public engagement. Manigault was one of Trump's most prominent African-American supporters during the campaign and has been working with his transition team. Her effusive praise of Trump has at times drawn criticism."Every critic, every detractor, will have to bow down to President Trump," she said in an interview for a PBS "Frontline" documentary about the presidential campaign.

The sale includes 211 hotel suites, 74 condos and retail facilities in the financial district tower .

The Trump International Hotel & Tower Toronto is officially up for sale. The asking price for the 65-storey luxury building, located in Toronto ’ s financial district, begins at $ 298 million . The listing comes after the building's developer fell behind on loan payments and the property wound up in the hands of CBRE, a court-appointed receiver. “Opportunities to acquire such a prominent trophy asset in Toronto ’ s financial core are extremely rare,” Bill Stone, executive vice president of CBRE Hotels, said Wednesday in a release.

Commercial real estate company CBRE has officially launched the sell-off of the majority of Toronto’s troubled Trump International Hotel Tower and the Trump Residences at Bay and Adelaide Sts.

Quotes in the article

FTI Consulting Inc


2 members of R&B band Tower of Power hit by train, injured

  2 members of R&B band Tower of Power hit by train, injured OAKLAND, Calif. - Two members of Tower of Power, a group that has been an R&B institution for nearly 50 years, were hit by a train Thursday night as they walked across tracks before a performance in their hometown of Oakland, but both survived, their publicist said. Calling it an "unfortunate accident," publicist Jeremy Westby said in a statement that drummer David Garibaldi and bass player Marc van Wageningen are "responsive and being treated Calling it an "unfortunate accident," publicist Jeremy Westby said in a statement that drummer David Garibaldi and bass player Marc van Wageningen are "responsive and being treated at a local hospital.

We'll be back soon! Did Trump ask Argentine president for help building a Trump Tower ?

UP NEXT. United Airlines plans to fly its last Boeing Co. 747 jumbo jet late this year, retiring its largest airplanes a year ahead of schedule as the iconic aircraft glides into the sunset. The decision marks the end of an era for U.S. airlines, which have relied on the humpbacked 747 to bring jet travel to a mass consumer market since the plane debuted in 1970. Toronto ’ s Trump Tower up for bids starting at $ 298 million .

Talon International Inc


S&P/TSX Composite


S&P/TSX Venture Composite



The sale being handled by receiver FTI Consulting Canada was approved by the courts on Jan. 4. It comprises 211 hotel and 74 residential units and the building’s retail space, including the spa, the Calvin bar and upscale America restaurant.

The receiver has set a minimum price of $298 million for the 65-storey, luxury tower and the sale is already receiving global interest from groups in Europe, Asia, the U.S. and some larger Canadian groups, said CBRE executive vice-president Bill Stone.

“We’re encouraged by the initial response. This is a rare commodity. There are not a lot of luxury hotels available in North America at this point,” he said.

After years of problems, the Trump hotel in Toronto is put up for sale

  After years of problems, the Trump hotel in Toronto is put up for sale The building was plagued by construction delays and lawsuits.FCN

Sign In. Note: If you previously signed in with an answer to a question, your answer will now become your password. Tower Inn and Suites of Guilford/Madison.

ERROR: Template 404.tpl not found in theme default for section pg! Directors Remely and Silhol have assembled a million plan.

CBRE has handled the sale of other prestigious Toronto hotels, including the Royal York, the Intercontinental and the Four Seasons. Stone characterized the five-star Trump Tower as a premium opportunity.

“The Toronto hotel market is exceptionally strong. Last year, to the end of Oct., occupancy was up about 5 per cent to 78 per cent. It was one of the strongest years on record. Average rates were up 11 per cent up to $221. Downtown Toronto was the rate leader in the country,” he said.

Although he would not provide the occupancy rate on the Trump hotel, Stone said, “It is holding its own.”

The bid date of Feb. 15 means the sale is expected to close this year, he said.

The sale does not include 50 hotel suites and 44 condos in the building that are owned by other investors.

A group of owners in the property, who claim to be the victims of misleading marketing, are suing the property’s developer, Talon International and the business organization owned by U.S. President-elect Donald Trump, which manages it and licensed the use of its name on the property.

In November, a lawyer for Trump called the suit, “a desperate, last-ditch attempt by a small group of buyers to get out of what were clear and unequivocal purchase contracts.”

The upscale Trump tower opened in 2012, after a series of delays and slow unit sales.

With files by Michael Lewis

Here's who bought the condos in Trump Tower Vancouver .
No residential tower in recent memory has been scrutinized as much as the new Trump International Hotel and Tower Vancouver. To see who bought what were reported as the highest price-per-square-foot for condos in Canada at the time they were sold, Postmedia News did a search of records at B.C. Assessment, B.C. Online and the Land Title and Survey Authority.The records reveal how much some of the well-heeled buyers paid to snap up units, and that almost 20 per cent of them bought more than one.For example, American tech billionaire and philanthropist John Tu paid $7.

—   Share news in the SOC. Networks


comments powered by HyperComments
This is interesting!