Penelope
Diamond Member
- Jul 15, 2014
- 60,265
- 15,790
- 2,210
I suspect that is whey he didn't want us to see his returns. He made a mess our of his companies, and hopefully not of the USA.
By
Craig Karmin
Updated Nov. 20, 2014 3:34 p.m. ET
0 COMMENTS
Real-estate investor CIM Group, a lender to the developers of New York’s Trump SoHo hotel and condominium, on Thursday won a foreclosure auction that will allow it to own the property, a CIM executive said.
The change in ownership is the latest twist for Trump SoHo, which Donald Trump touted in 2006 on his television show The Apprentice and whose family has helped market the property.
Since opening in 2010, Trump SoHo has become a popular luxury hotel with a lively bar and restaurant scene. But the developers, the Sapir Organization and Bayrock Group, sold less than one-third of the 391 condo-hotel units, each of which cost $1.2 million to build, according to offering documents from broker Eastdil Secured.
CIM Group to Take Control of New York’s Trump SoHo Hotel-Condo
Trump Entertainment Resorts: This company, now owned by billionaire Carl Icahn, owns two Trump branded casino resorts, only one of which continues to operate today. After a long period of financial trouble, the company entered bankruptcy protection in 2001, 2004, 2009, and later in 2014 owing $1.2 billion in debts
The business emerged from bankruptcy in 2016 with its transfer to Icahn Enterprises, in which the Trump Organization lost all its stake and must continue to provide Trump's name for the building.[15]
Many developers pay Donald Trump to market their properties and be the public face for their projects.[68] For that reason, Trump does not own many of the buildings that display his name.[68] According to Forbes, this portion of Trump's empire, actually run by his children, has valuation of $562 million
The Trump Organization - Wikipedia.
By
Craig Karmin
Updated Nov. 20, 2014 3:34 p.m. ET
0 COMMENTS
Real-estate investor CIM Group, a lender to the developers of New York’s Trump SoHo hotel and condominium, on Thursday won a foreclosure auction that will allow it to own the property, a CIM executive said.
The change in ownership is the latest twist for Trump SoHo, which Donald Trump touted in 2006 on his television show The Apprentice and whose family has helped market the property.
Since opening in 2010, Trump SoHo has become a popular luxury hotel with a lively bar and restaurant scene. But the developers, the Sapir Organization and Bayrock Group, sold less than one-third of the 391 condo-hotel units, each of which cost $1.2 million to build, according to offering documents from broker Eastdil Secured.
CIM Group to Take Control of New York’s Trump SoHo Hotel-Condo
Trump Entertainment Resorts: This company, now owned by billionaire Carl Icahn, owns two Trump branded casino resorts, only one of which continues to operate today. After a long period of financial trouble, the company entered bankruptcy protection in 2001, 2004, 2009, and later in 2014 owing $1.2 billion in debts
The business emerged from bankruptcy in 2016 with its transfer to Icahn Enterprises, in which the Trump Organization lost all its stake and must continue to provide Trump's name for the building.[15]
Many developers pay Donald Trump to market their properties and be the public face for their projects.[68] For that reason, Trump does not own many of the buildings that display his name.[68] According to Forbes, this portion of Trump's empire, actually run by his children, has valuation of $562 million
The Trump Organization - Wikipedia.