Real Estate News | Featured Columnists
Trump Family Celebrates Opening of Toronto's Trump International Hotel Project
By Scott Kauffman | April 27, 2012 9:00 AM ET
(Toronto, Canada) -- Donald Trump and his three children - Donald Trump Jr., Ivanka Trump and Eric Trump - recently made a grand family appearance in North America's fifth-largest city for the official opening of Trump International Hotel & Tower Toronto.
Trump International Hotel & Tower Toronto, located in the heart of downtown Toronto, is Canada's tallest residential building at 65 stories. The 900-foot tall tower's stone, steel and glass façade serves as a beacon on the Toronto skyline, and is crowned by an articulated spire building.
It actually opened for business Jan. 31.
The grand ribbon-cutting event also was attended by Alex Shnaider, chairman of Talon International Development Inc., Val Levitan, president and CEO of Talon International Development Inc., and Inna Levitan, CEO and managing partner of Talon Luxury Collection. Other dignitaries celebrating the event were Michael Chan, Ontario Minster of Tourism, Culture and Sport, and Toronto Mayor Rob Ford,
Professional hockey player John-Michael Liles of the Toronto Maple Leafs and major-league baseball player JP Arencibia of the Toronto Blue Jays presented Donald Trump and Levitan with ceremonial jerseys commemorating the day.
Staying true to Trump's reputation for providing the ultimate travel experience, guests enjoy 261 luxurious rooms and suites boasting stunning views of Toronto's skyline. Features include spectacular meeting and event space, Stock Restaurant and destination lounge, and the 15,000-square-foot, world-class Quartz Crystal Spa. Amenities include 24-hour concierge, 24-hour in-room dining and valet indoor parking as well as Trump Attaché, providing each guest with uncompromising personalized service.
Trump International Hotel & Tower Toronto is not owned, developed or sold by Donald J. Trump, The Trump Organization or any of their affiliates. Talon International, a privately held real estate development firm, is using the Trump name as part of a licensing agreement. However, the Trump family's new Trump Hotel Collection is managing the hotel as part of its growing collection of leading hotels around the world.
Launched in October 2007, Trump Hotel Collection is the Trump family's efforts to take luxury hospitality to the next level. Presided over by developer Donald J. Trump and his three grown children - Donald Jr., Ivanka and Eric - the prestigious portfolio includes the highly acclaimed Trump International Hotel & Tower New York, Trump International Hotel & Tower Chicago, Trump International Hotel Las Vegas, Trump International Hotel Waikiki Beach Walk, Trump SoHo New York, Trump Ocean Club International Hotel & Tower Panama, and the newly opened Trump International Hotel & Tower Toronto.
Trump Hotel Collection recently acquired Miami's iconic Doral Golf Resort & Spa and will assume operations this summer. Trump International Hotel Washington, D.C., a redevelopment of the historic Old Post Office building, is slated to open in 2016.
Bankrupt Reynolds Plantation May Have Buyer
(Lake Oconee, Ga.) - According to a published report in the Atlanta Journal-Constitution, an unnamed buyer appears to have emerged to purchase the golf courses and other amenities at Reynolds Plantation, one of the more luxurious golf resort-style communities in the world.
Reynolds Plantation, which is anchored by six championship courses and a Ritz-Carlton Resort, has been operating under a bank-appointed receiver for nearly a year.
In a letter on Monday to members of the Lake Oconee enclave, the receiver said "we have a potential purchaser for the Reynolds Plantation assets, pending execution of a formal contract between the parties," according to the news report.
Reynolds Plantation's receiver, Andrew Bolnick, did not identify the potential buyer. But he said the purchaser would be named "once final contract documents are executed."
"I can say with great confidence that we are very pleased with the quality and quantity of the offers we received on the assets, and that we are very proud to have a reputable, qualified, and worthy buyer for Reynolds Plantation," receiver Andrew Bolnick wrote to members.
In February 2011, Linger Longer Development Co. Chairman and Reynolds developer Mercer Reynolds notified members that the company's lenders were demanding repayment of debt, and offered to sell the members the community's golf courses, marinas and other public areas for $45 million.
The members declined, and in May of last year Bolnick was hired to operate the clubs and market the community and thousands of acres of undeveloped land.