Trump organization ends management of Toronto tower

Associated Press

Toronto — A high-end hotel and condominium tower in Toronto will no longer bear the Trump brand name.

An investment partnership recently acquired the 65-story tower from the developer and the property will no longer be managed by the Trump Organization. JCF Capital ULC and the Trump Organization issued a joint statement Tuesday announcing the end to the management agreement but said they may work together in the future.

The tower was Trump’s first branded hotel in Canada. It opened in 2012 and features 211 hotel rooms and 74 private residences.

The company founded by President Donald Trump managed the property for Talon International, owned by Russian-born billionaire Alex Schnaider. Talon defaulted on the loan last year.

Trump opened a hotel and residence in Vancouver earlier this year.