letter to investors in which Trump referred to the project as his "latest development." Other marketing material referred to the project as a "signature Trump development." The lawsuits also alleged breach of contract for the failure to have the project completed by December 2008. By the time of the lawsuits, Trump had told the developers that they could not use his name for the project after they defaulted on the licensing agreement. Corus Bankshares was struggling as of August 2009. By that time, the building had been furnished but remained unoccupied by tenants, and the project had been financed through $182 million in construction loans. The project eventually defaulted on the $139 million loan before its planned 2009 opening. Corus Construction Venture, led by Starwood Capital Group and later known as ST Residential, ultimately took over the mortgage to the property, and in March 2010 filed for foreclosure against SB Associated LLC for defaulting on the loan. The suit named over 80 buyers who never received their units or a refund on their deposits. The foreclosure was expected to take at least six months before being resolved due to the large number of people involved and because of backed-up foreclosure lawsuits in the courts. In November 2010, Trump announced that the name licensing agreement had been terminated "a long time ago" and that he was not involved in the foreclosure process, which was expected to take an additional six months because of the large number of involved parties – more than 100 buyers – and the backlogged county courts. Ultimately, 75 buyers had filed lawsuits against the project, after they spent a combined total of $8 million on deposits for units. Some investors were upset to learn in 2012 that Felix Sater, a Bayrock Group employee, was involved in the project despite his financial crimes related to the Mafia. Lawyer Joe Altschul had represented the 75 buyers, and stated that they would not have invested in the project if they had known of Sater's involvement. A foreclosure auction was scheduled for March 14, 2012, as requested by Corus Construction Venture, which was owed $165.6 million from SB Hotel Associates. Corus Construction Venture purchased the project in the foreclosure auction, after no other bidders attempted a purchase due to the high $165.6 starting price, as well as the number of lawsuits associated with the project. In March 2013, ST Residential offered