November 5, 2016

Trump managed building goes bankrupt

Seattle PI -The tallest residential building in Canada's largest city, named for the Republican presidential nominee in "the States," has gone into receivership.

Launched with great fanfare by Donald Trump and his offspring four years ago, only 44 of 118 condo units have been sold. The hotel occupancy rate is low, and room rates for the hotel have fallen by 30 percent, according to court documents.

The Trump Organization does not own the building. It licensed its name and has a contract to manage the property, complete with such services as Trump Pets and a Trump Experience outing. Its management is expected to continue after ownership is thrashed out.

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