Toronto鈥檚 Trump International Hotel & Tower is finally up for sale, and the beleaguered building may lose its presidential brand under new ownership.
The sale includes 211 hotel units, 74 condo units and most of the tower鈥檚 retail and commercial space, including the America restaurant on the 31st floor.
The property鈥檚 court-approved receiver has set a minimum sale price of $298 million for the 65-storey tower, and the company behind the sale says there is 鈥渟ubstantial levels of interest from all over the globe.鈥�
鈥淥pportunities to acquire such a prominent trophy asset in Toronto鈥檚 financial core are extremely rare,鈥� said Bill Stone, executive vice-president of CBRE, the commercial real estate company behind the sell-off.
鈥淚t鈥檚 a superb location and one of the best luxury hotels in Canada.鈥�
Much like its namesake, the luxury tower, located in the heart of downtown Toronto at Bay St. and Adelaide St. W., is no stranger to controversy. The building opened in 2012 after numerous delays and construction issues, including police reports of and damaging cars below.
In 2015, the building鈥檚 developer was slapped with a $2,000 bill after police were forced to close roads around the high-rise as a precaution while a was inspected. Later that year, a cracked window triggered a similar closure.
Protestors angry about the President-elect鈥檚 call to ban Muslims have gathered outside the Trump-branded towers in Vancouver and Toronto, and local politicians in both cities have .
A change in ownership could mean a name change. Symon Zucker, a lawyer for the building鈥檚 developer, Talon International, told the Washington Post that the building鈥檚 new owners will get to decide whether or not to keep the tower鈥檚 Trump brand.
