Toronto St Regis Toronto Hotel and Residences | 281.93m | 58s | JFC Capital | Zeidler

Toronto’s Trump Tower sells for $298M

March 29
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I've pulled Talon International info from the dataBase file, created a profile for JFC Capital in our dataBase, and attached it to the Trump dataBase file. The thread title, therefore, has been automatically updated.

While the new owner is JFC Capital ULC, the dataBase links to JFC Capital LLC of San Diego. It seems that ULC does not have a web presence, and I am curious about how the two are connected exactly. If anyone knows, it would be great to see a post about it.

So, next question is, will the Trump name remain on the building? I wonder how occupancy rates at the Trump may have changed in the last while. The hotel has dropped from #1 on tripadvisor.com down to #4 over the past year, and while that's still very good, it's an indication that something's amiss. The much larger problem for JFC, though, is that no suites have sold in ages, and if that's to change, they must get the name off the building and spend millions on a rebranding. How easily can they end the current contracts, however? Might it end up as the Scion, the new younger-hipper-cheaper-untested Trump brand? There are no Scion condos… and how many people will want a Trump condo by any other name?

So, is a bigger change coming? Will it end up as a Mandarin Oriental, or a similar high-end brand? What do you all think?

42
 
stabilize things by restructuring the ownership of the building by dissolving the condo corps. sign another hotel management company. rent the residential units. flip the property in 5 years

or

do almost nothing and flip it in 5 years
 
Oy - from the Wall Street Journal:

Russian State-Run Bank Financed Deal Involving Trump Hotel Partner
Russian-Canadian developer put money into Toronto project after receiving hundreds of millions from deal involving VEB

https://www.wsj.com/articles/russia...deal-involving-trump-hotel-partner-1495031708

Alexander Shnaider, a Russian-Canadian developer who built the 65-story Trump International Hotel and Tower, put money into the project after receiving hundreds of millions of dollars from a separate asset sale that involved the Russian bank, whose full name is Vnesheconombank.

Mr. Shnaider sold his company’s share in a Ukrainian steelmaker for about $850 million in 2010, according to S&P Global Market Intelligence. According to two people with knowledge of the deal, the buyer, which hasn’t been identified publicly, was an entity acting for the Russian government. VEB initiated the purchase and provided the money, these people say.

U.S. investigators are looking into any ties between Russian financial institutions, Mr. Trump and anyone in his orbit, according to a person familiar with the probe. As part of the investigation, they’re examining interactions between Mr. Trump, his associates and VEB, which is now subject to U.S. sanctions, said another person familiar with the matter. The Toronto deal adds a new element to the list of known connections between Mr. Trump’s associates and Russia.
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Guess they will have to rename the restaurant from America to Москва now.

AoD
 
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Irishmonk said:
Hmm, a Russian financial deal involving a Trump named property... There couldn't be anything shady about that now, could there be? Nah!
Click to expand...

Don't you mean nyet?
 
Not sure what the big issue is regarding Russian business people purchasing property; a Saudi prince owned the Royal York for years and nobody complained. Believe it or not, not everybody in Russia knows Putin. As Canadians, don't we get upset with the "Do you know Joe from Canada" questions from Americans? Enough already!
 
mustangjay said:
Not sure what the big issue is regarding Russian business people purchasing property; a Saudi prince owned the Royal York for years and nobody complained. Believe it or not, not everybody in Russia knows Putin. As Canadians, don't we get upset with the "Do you know Joe from Canada" questions from Americans? Enough already!
Click to expand...

Please. If Trump's campaign is being actively investigated by the FBI for connections to the Russian government and Russian business interests (which, if you know anything about Russia, are very closely aligned), then it would make sense that Trump's deal with this Russian billionaire would be of interest to the investigators.
 
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