The 224-room Hotel Saskatchewan will be branded a Marriott after latest sale.
- Temple Hotels
Our readers report on recent commercial real estate deals across Western Canada
Regina’s Saskatchewan Hotel sold for $37 million
Regina’s landmark Hotel Saskatchewan has been bought by Toronto-based InnVest Real Estate Investment Trust for $37 million. The deal is expected to close this September.
The 224-room hotel will be rebranded from the Radisson chain to Marriott late this year, according to a news release.
It’s the second time the hotel has been sold since Temple Hotels acquired it for $32.8 million in April 2014. The 10-storey hotel, which opened in 1927, was originally part of a chain of hotels built and owned by Canadian Pacific Railway.
From: Malahat Nation, Mill Bay, B.C. The 300-member Malahat Nation reports the following purchase:
Deal: 1,297 acres of land next to Mill Bay on Vancouver Island. The land was purchased from Bamberton Properties LLP. Price: $37.5 million.
From: DTZ Victoria. DTZ vice-president Randy Holt reports the following sale:
Deal: The 23-room Abigail Hotel, Victoria, sold to a numbered company based in White Rock, B.C. Price: $5.07 million.
FROM: CBRE National Apartment Group, Vancouver. CBRE senior vice president Lance Coulson sold the following:
Deal: 23-suite Spring Ridge Apartments, a rental apartment on Balmoral Road in Victoria’s Fernwood neighborhood.? Price: $1.92 million.
From: Jones Lang Lasalle (JLL) National Multi-Residential Investment Team, Edmonton. JLL agents Paul Gemmel, David Parker and Samuel Dean sold the following:
Deal: 64-unit rental apartment complex, North Edmonton. Price: $6.88 million.
Deal: 22-unit rental apartment building, Oliver neighbourhood of Central Edmonton. Price: $3.25 million.
From: Avison Young, Vancouver. Avison Young principal Chris Weiser reports the following sale:
Deal: 24-suite rental apartment building, Nelson Street in Vancouver’s West End. Sold vacant after extensive renovations. Price: $9.08 million.
From: NAI Commercial, Vancouver. NAI agent Ted Weibelzahl sold the following:
Deal: 26,639-square-foot industrial building, 185A Street, Cloverdale. Price: $4.33 million.
From: Dexter Associates, Vancouver. Dexter agent Tyrone Robinson sold the following:
Deal: 16-unit rental apartment building, East 3rd Avenue, North Vancouver.
Price: $4.25 million.
From: Fortis Inc., St. John’s NL. Fortis reports the following portfolio transaction
Deal: 22 hotels in seven provinces sold as a portfolio to an unnamed private investor group. Price: $365 million.
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