Toronto's Trump Tower Is Changing Its Name

It's sad news for big fans of alliteration, but nobody else seems to mind: The Trump Tower in Toronto will be getting a new name under a deal announced Tuesday, the New York Times reports. 

JCF Capital, which bought the 65-story hotel and condo complex earlier this year, has paid the Trump Organization to exit its management contracts and remove the Trump name from the building. Sources tell Bloomberg that the "breakup fee" was around $6 million and the president's name will be gone from the downtown tower within weeks. 

The Trump Organization licensed the name but never owned a stake in the tower, which opened in 2012 and suffered from problems including low occupancy rates and huge cost overruns.

Read the full story on Newser.com

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