Former Trump International Hotel & Tower marketed as bulk sale
Featured CPAC speaker and make believe billionaire’s name proves to be poison yet again.
It took five years from the original completion date for developers to finish the former Trump International Hotel & Tower in Fort Lauderdale. Now, they want to sell the 24-story project as a bulk deal, according to real estate consultancy Condo Vultures.
The new 298-unit project is being marketed for sale as “an extremely rare opportunity to acquire a brand new big beachfront asset,” according to the bulk deal marketing literature Condo Vultures cited.
Located on the west side of North Fort Lauderdale Beach Boulevard and built by “Donald J. Trump, Roy Stillman and Bayrock Group,” the project “has been well maintained and is in nearly move-in ready condition,” according to the sales material.
Trump, however, said he just licensed his name to the developers and later terminated the deal. Corus Bank of Chicago, which later failed, had the loan on the project.
The owner of the property is ST Residential, a joint-venture between Starwood Capital, TPG Capital, WLR LeFrak and Perry Capital, according to the bulk deal marketing literature.
Broward County public records indicate the ownership group took title in April 2012 after winning an online foreclosure auction, with a final judgment of foreclosure in the amount of nearly $166 million.