Nobody wants to buy Toronto's Trump Tower
Toronto's Trump International Hotel and Tower has seen its fair share of action.
From a supposedly wobbly antenna to a major protest, the hotel and condo building never fails to attract attention, especially now that it has a glow-in-the-dark light installation running up and down its spire.
However, it didn't get any love, or bids, from potential buyers in a court-run sale.
According to Thomson Reuters, the ownership of the building will likely fall to its main debt holders.
"No qualified bids apart from a stalking horse offer of $298 million were received for the luxury hotel and condo property by an initial deadline, the receiver, FTI Consulting, said in a letter dated Feb. 21 and seen by Reuters on Monday," reads the report
"As a result, the Receiver has determined that the Stalking Horse Bidder is the Successful Bidder," the letter continues.
On behalf of developer Talon International Inc., Trump licenses its name and manages the building at Bay and Adelaide.
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