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The Trump hotel in downtown Toronto includes 211 hotel units and 74 condominiums that did not find buyers under previous ownership. (Ian Willms For The Globe and Mail)
The Trump hotel in downtown Toronto includes 211 hotel units and 74 condominiums that did not find buyers under previous ownership. (Ian Willms For The Globe and Mail)

Troubled Trump Toronto hotel put on the block Add to ...

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Trump International Hotel & Tower Toronto is looking for a new owner, with creditors hoping that strong investor interest in Canadian hospitality properties can rescue a development that proved to be a money pit for its original backers.

The court-appointed receiver for the Trump hotel formally launched the sale of the 65-storey tower on Tuesday, with CBRE Ltd. as its real estate agent and a $298-million minimum price tag on a development that cost more than $500-million to build. The original owner, billionaire Alex Shnaider’s real estate company Talon International Development Inc., handed the keys to lenders last year after defaulting on a loan.

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A look back at the wobbly history of Toronto's Trump Tower (The Globe and Mail)

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