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In 1985, Donald Trump, primarily a businessman and real estate investor at the time, acquired Mar-a-Lago and used it as a residence. In 1994, he converted it into the Mar-a-Lago Club, a members-only club with guest rooms, a spa, and other hotel-style amenities. The Trump family maintains private quarters in a closed-off area on the grounds. [9]
2020s commercial real estate distress was a worldwide spike in commercial real estate distress that began in the 2020s in the wake of the COVID-19 pandemic and interest rates hikes by central banks in response to the 2021 inflation crisis. Although the increase in distress occurred globally it was most acute in the United States and China.
On June 24, 2021, at approximately 1:22 a.m. EDT, [a] Champlain Towers South, a 12-story beachfront condominium in the Miami suburb of Surfside, Florida, United States, partially collapsed, causing the deaths of 98 people. [9] Four people were rescued from the rubble, but one died of injuries shortly after arriving at the hospital. [10]
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