News Archived Trump Tower in Toronto sees no bids in auction process (cbc.ca)
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News Archived Trump Tower in Toronto sees no bids in auction process (cbc.ca)
submitted ago by sheepsexplode
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[–] derram ago
https://archive.is/VdFO5 | https://vgy.me/KIaIrd.png :
'"As a result, the receiver has determined that the stalking horse bidder is the successful bidder."'
'JCF immediately started a sale process via a "stalking horse bid" — a floor for an auction process, whereby other bidders would have to beat the initial bid of $298 million. '
'"No qualified ... bid other than the stalking horse agreement was received by the ... deadline," said a statement from the receiver managing the sale process, FTI Consulting. ', "The project's original owner, the development company Talon International, failed to make payments on its loans last fall, which prompted a court-supervised sale process.", "That deadline passed last month with no other bidders, so JCF will likely now be declared the project's owner."
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