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TORONTO-Developers of the proposed $500-million Trump International Hotel & Tower here have acquired the site on which the 68-story building would rise. The site is located at the corner of Bay & Adelaide Downtown.Donald Trump’s local development partner Talon International acquired the property from the Bresler family of Toronto for an undisclosed sum. The site address is 325 Bay St. An on-site sales center opened in May. Hotel condominium suites start at $513,000 and residential suites start at $1.2 million. “We’ve been pleasantly surprised by the interest shown from purchasers in the US, UK and Asia,” says Talon CEO Val Levitan, “especially from those who travel to Toronto frequently for business.” The building was designed by locally based Zeidler Partnership Architects. EllisDon is the general contractor. The property features 265 luxury hotel guestrooms and 109 residential condominiums, all available for purchase. Most of the hotel suites 9-foot ceilings, while hotel suites on Club Trump floors will have 10-foot ceilings and access to a private lounge. The residential suites will feature 11- to 13-foot ceiling, and the Grand Skyplex penthouses will have 28-foot ceilings.Common amenities include two restaurants, one formal one casual, as well as a Martini and sushi bar. The project also will include an 18,000-sf day spa that will include a a gym, a swimming pool and a juice bar. The business center will include an entire floor of executive meeting rooms.Meanwhile, according to published reports, an offshore Internet gambling company this week proposed spending $400 million for a 31% stake in Donald Trump’s casino company, which owns three of the 13 casinos in Atlantic City and is struggling to make interest payments on $1.8 billion in debt. In August, Trump announced a plan to restructure the company with capital from DLJ Merchant Banking, a private equity group affiliated with Credit Suisse First Boston that had proposed investing $400 million for a 55% stake. Last week, Trump and DLJ issued a statement saying the deal was off.

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