TORONTO – An agreement has been reached between the Trump Organization and the JCF Capital ULC joint venture for the name and management rights of the Trump Tower in downtown Toronto.
The amount of the agreement was not disclosed, but according to Tuesday’s announcement, the building will no longer be named Trump.
The building does not belong to the Trump Organization, but rather to JCF Capital ULC, which acquired it earlier this year as part of a court-supervised sale. At the beginning of the project, the Trump Organization transferred its name to the building and held a contract for its management.
Toronto’s 65-story Trump Tower includes hotel suites and condominiums, as well as retail outlets.
“Together with Donald Trump Jr., Eric Trump, Eric Danziger and their team have been exceptional partners and we look forward to working with the Trump Organization in the future,” said Jay Wolf, President of JCF Capital in a press release , Tuesday.