Opened for business in 2012, the Trump International Hotel & Tower Toronto is now in seemingly dire straits after most of the 65-storey building’s hotel rooms and condo units remain unsold.
Donald Trump’s erstwhile partner Alex Shnaider reportedly attempted to sell the tower, with allegedly an option to cut their ties with Trump and place the property into creditor protection.
As reported by The Globe and Mail, the lower-than-expected occupancy numbers of the residential complex—named after the presumptive Republican candidate in the U.S. presidential elections on November—have allegedly led the owner to default on debts incurred by the building’s construction and operation.
Earlier this year, Cape Breton Island in Nova Scotia saw a surge of popularity among would-be buyers from the U.S., most of who were reportedly apprehensive of a probable Trump victory.
