Trump's failed Baja resort fits pattern in candidate's business record

Trump's failed Baja resort fits pattern in candidate's business record
Trump Ocean Resort brought in $32.5 million in buyer deposits; 250 buyers lost their deposits.



Simms, then an aerospace purchasing agent living in Los Angeles, said she used her life savings to pay a deposit of just over $50,000 for unit No. 602, a one-bedroom overlooking the Pacific.

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In the end, nothing at all was built at Trump Ocean Resort, and Simms lost her money. As did about 250 other buyers, most of them from Southern California.

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“When the project went south, no one from the Trump organization even contacted us to take responsibility,” Sapol said. “We were misled — all the marketing materials, the brochures, the name of the building, the fact that Trump’s daughter was at the event, saying she and her brother bought units.”

Ivanka Trump later told CBS News that her family had “lived up to our obligation under a license agreement.”

“We were never the developer of this project, and that was made clear,” she said. “We never took anyone’s deposit.”

Trump, she said, was just the brand. “I am sorry for everyone, but we are in the same boat,” she said.

The Trumps did collect $500,000 in licensing fees from developers Jason Grosfeld and Adam Fisher, the principals behind Irongate and P.B. Impulsores.


http://www.startribune.com/trump-s-failed-baja-resort-fits-pattern-in-candidate-s-business-record/384613361/