S&P Destination Properties

November 10, 2006 16:19 ET

S&P Destination Properties: Canadian Real Estate Marketer Sells Over $700 Million US in Record One Day Condo Sales Launch of Trump Tower Waikiki

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 10, 2006) - On Thursday November 9, selling from two countries, the Trump International Hotel & Tower Waikiki Beach Walk™ set a record for the amount of residential property sold in one development on a single day. Vancouver-based S&P Destination Properties (S&P) conducted the launch of the new 38-storey Trump Tower Waikiki simultaneously in Hawaii and Tokyo on November 9 (November 10 in Tokyo) using their proprietary on-line sales selection process. Sales of over US$700 million is the biggest one day sale in real estate history in the world. By the end of the first day of a planned two-day sales event, 100% of the 464 hotel suites and residences were sold.

S&P teamed up with celebrity businessman and developer Donald Trump and Irongate, a Los Angeles based real estate development and investment company. Called Trump International Hotel and Tower Waikiki Beach Walk™, the five-star luxury hotel-condominium attracted buyers from around the world.

"Donald Trump predicted that Trump Tower Waikiki will be the most luxurious development in Hawaii and buyers responded," says S&P President Sid Landolt. "We've seldom seen such a positive response to a luxury condo with as many people excited about it as we've seen with this sale. It's a testament to the high quality of the project, the strength of the Trump Brand, and the continuing popularity of Hawaii as a vacation destination."

The previous one day record residential property sale was established by another Vancouver-based company - Intrawest - with the sale of all 318 suites in the first phase of a Maui resort for $425 million in December 2005.

Known for its innovative, customer-focused marketing strategies, S&P Destination Properties sold the luxury suites at an average price of $1.5 million US. Priced from the mid-$400,000's for a 500 square foot studio suite, to over $9 million for a three bedroom penthouse, all suites come with five star finishing and service.

The sale of Trump Tower Waikiki was a truly international launch, with suites being sold to buyers around the world via the internet with a real time 'availability board'. Buyers are from Hawaii, California and other parts of the USA, as well as Japan, Canada, Mexico, the UK and China. Despite the relative newness of the hotel condominium asset class in Japan, Japanese buyers made up the largest group of buyers - a clear indication that high net worth resort buyers in Japan are embracing the potential of investments in overseas luxury properties and the Trump name for quality and investment value.

"Intense Asian interest led us to arrange the same day sale in Tokyo," says S&P's principal Peter Dupuis. "Asian buyers want the best and they love Donald Trump. The Tokyo sales center paid off for us on this project, with over 40% of our sales coming from Asian buyers based there."

While the Waikiki tower is Trump's first foray into Hawaii, that's not the case for Sid Landolt and Peter Dupuis, co-founders and principals of S&P, a company which has designed and successfully marketed two luxury communities on the Big Island of Hawaii.

A world leader in luxury resort living, S&P Destination Properties is devoted to creating and selling the finest real estate in the finest places on earth. From Whistler B.C. to Loch Lomond, Scotland, S&P partners -- Landolt and Dupuis have designed and marketed $4.5 billion worth of real estate world-wide in their career. Most of their projects have sold out on opening day or within weeks of the initial launch.

Trump International Hotel & Tower Waikiki Beach Walk™ marks the first time in 25 years that a new five-star hotel is being developed in Oahu. Following completion of construction in 2009, hotel-condominium owners and hotel guests will enjoy the unparalleled service and amenities the Trump brand offers. Located just steps away from world-famous Waikiki beach, the project will offer an array of five-star services, including a library, wine cellar, lobby bar, cafe, infinity edge pool, sun terrace, private fitness centre, spa, 24-hour maid and concierge services and expansive views of the ocean and Fort DeRussy Park.

The next project up for S&P is located only 30 minutes from San Diego. Trump Ocean Resort Baja Mexico will be North Baja's first hotel-serviced luxury resort. The 526-unit hotel-condominium, with units ranging from 532 to 2,200 square feet, will provide the North Baja market with tremendous opportunity for investment. Prices for the 195 one, two and three-bedroom suites in the first tower, will range from the mid-$200,000s to more than US$1 million. The selection event for Trump Baja is slated for early December 2006.

Additional information on the development is available at: www.trumpwaikikihotel.com. Digital photos and video are available.

To view the Trump Tower Waikiki, please click on the following link: http://www.ccnmatthews.com/docs/trump-waikiki.jpg

To view accompanying photo, please click in the following link: http://www.ccnmatthews.com/docs/Nov9_Photo.jpg

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