Sales records were just smashed by the new Trump International Hotel and Tower Waikiki Beach Walk condo-hotel. Four hundred sixty-four hotel suites were purchased for over $700 million by investors last Thursday. “Developers said the sales set a record for the amount of residential property, both in dollar value and unit volume, sold in one development on a single day. The previous record was set in December 2005 when Vancouver-based Intrawest Corp. sold 318 suites in the first phase of a Maui resort for $425 million US.” The project will begin construction next month, and is slated for completion by the middle of 2009.
Trump has recently become the king of licensing, by selling his name to real estate projects around the country. With to no little investment in these projects, his company is looking more like Marvel Comics (another licensing firm) then a true real estate development firm.
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Article Author: Joshua DorkinJoshua has written 568 articles for us.
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Joshua Dorkin (@jrdorkin, Google+) is the founder and CEO of BiggerPockets.Mr. Dorkin's vision for BiggerPockets has helped to propel it into becoming one of the top real estate destinations online. His vision for the site and its future has brought national press attention to both Mr. Dorkin and to BiggerPockets.
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