A Bit More Detail

Assorted Personal Notations, Essays, and Other Jottings

Posts Tagged ‘skyscrapers

[URBAN NOTE] “Troubled Trump Tower in Toronto likely will go to owner of $301-million construction loan”

The Financial Post carries Alastair Sharp’s Reuters report noting that debt-laden Trump Tower here in Toronto has not received any bids, and that the bank that is its main debt holder is likely to take the building.

The court-run sale of a downtown Toronto high-rise bearing the name of U.S. President Donald Trump received no initial bids and ownership will likely fall to its main debt holder, a letter from the receiver showed.

The court process only indirectly involves Trump, whose sprawling business empire licenses its brand and manages the Toronto property on behalf of the developer, Talon International Inc. But the Trump International Hotel & Tower’s new owner will need to navigate an unresolved dispute over whether they can get out of that arrangement.

No qualified bids apart from a stalking horse offer of $298 million were received for the luxury hotel and condo property by an initial deadline, the receiver, FTI Consulting, said in a letter dated Feb. 21 and seen by Reuters on Monday.

“As a result, the Receiver has determined that the Stalking Horse Bidder is the Successful Bidder,” the letter said.

With no rival bidders emerging, the hotel’s ownership will likely fall to JCF Capital ULC, which on Sept. 29 bought the $301 million owed on the tower’s construction loan, before quickly moving to initiate the sale process.

Written by Randy McDonald

March 7, 2017 at 4:00 pm

[PHOTO] Looking northwest, Church and Wellesley

Looking northwest, Church and Wellesley

In the afternoon light, the condo towers of the Yonge and Bloor area loom over Church and Wellesley. The northwest corner of this intersection is likewise set for a massive transformation, a condoization. This scene will not be here for much longer.

Written by Randy McDonald

March 7, 2017 at 11:14 am

[PHOTO] Looking west, rue de la Gauchetière and Mansfield, Montréal

Looking west, rue de la Gauchetière and Mansfield

Written by Randy McDonald

March 3, 2017 at 11:00 am

[BLOG] Some Sunday links

  • Beyond the Beyond links to a US military science fiction contest.
  • The Broadside Blog’s Caitlin Kelly notes that journalism is meant to offer criticisms of the president.
  • Crooked Timber has an open forum about the inauguration.
  • Dangerous Minds shares photos from seminal 1980-era London club Billy’s.
  • The Dragon’s Gaze links to a paper reporting on a superflare on brown dwarf EPIC 220186653.
  • A Fistful of Euros’ features Doug Merrill’s meditations on 2009 and 2017.
  • Language Log looks at the etymology of the Vietnamese name “Nguyen.”
  • Lawyers, Guns and Money looks at Donald Trump’s desire for a military parade.
  • The LRB Blog looks at Donald Trump as a winner.
  • Marginal Revolution links to a book on the economics of skyscrapers and notes a skyscraper boom in China.
  • Steve Munro looks at buses and their distribution on TTC networks.
  • Transit Toronto looks at how Exhibition Place work will complicate multiple bus routes.
  • Window on Eurasia notes low levels of Russian productivity, shares a Russian argument as to why Russia and the United States can never be allies in the long term, looks at counterproductive Russian interference in Circassian diaspora institutions, and shares argument suggesting Trump’s style of language explains why he wants to forego complicated multilateral negotiations for bilateral ones where he can dominate.

[PHOTO] Looking south from Rosedale, night

Looking south from Rosedale, night #toronto #yorkville #rosedale #skyline #night

Written by Randy McDonald

January 19, 2017 at 11:00 am

[PHOTO] Toronto skyline with winter fog

Skyline with winter fog #toronto #skyline #winter #fog

Written by Randy McDonald

December 30, 2016 at 9:59 pm

Posted in Photo, Toronto

Tagged with , ,

[PHOTO] Silver skyline, from the west

Silver skyline, from the west #toronto #highparknorth #skyline #skyscraper #cntower #night

Written by Randy McDonald

December 29, 2016 at 11:30 am

Posted in Photo, Toronto

Tagged with , , ,