Toronto Trump Tower sold for $300 million
Toronto's Trump International Hotel & Tower was never owned by Donald Trump's company. Instead, it licensed its name to Talon International and managed the building at Bay and Adelaide.
But now the 65-storey hotel and condo in the heart of the city's Financial District has been sold to its main debt holder JCF Capital for $298 million, as the Canada Press reports.
Apart from JCF Capital's stalking horse bid, no one else wanted to buy the building. A judge approved of the sale yesterday.
Since opening in Toronto, the Trump Tower has faced lots of controversy and a lawsuit.
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