Fairmont Hotel Vancouver was bought by Larco Hospitality.
- Ivanhoe Cambridge
Fairmont Hotel Vancouver sold for $180 million
Quebec-based Ivanhoe Cambridge, the real estate arm of Quebec’s provincial pension fund, has sold the venerable Fairmont Hotel Vancouver to West Vancouver-based Larco Hospitality. The price for the 556-room landmark hotel in downtown Vancouver was $180 million.
The sale continues a record pace for hotel transaction in Canada. In 2014, hotel transactions hit $1.4 billion, stretching an eight-year string with national hotel property sales of more than $1 billion. Last year, B.C. hotel sales accounted for 24 per cent of the total dollar volume for Canadian hotel transactions, according to Colliers Canada.
From: Cushman & Wakefield, Edmonton. Cushman & Wakefield investment associate Brandon Kuhn sold the following:
Deal: 22-suite apartment building, located in Queen Mary Park area, Edmonton. Price: $2.5 million
From: Avison Young, Vancouver. Avison Young principals Chris Weiser and Rob Greer with Rob Hunter of Devon Properties report the following sale:
Deal: 73-suite oceanfront apartment complex next to the Nanaimo Yacht Club, Nanaimo. Price: $7.88 million.
From: Cushman & Wakefield Ltd. Capital Markets Group, Vancouver. Cushman & Wakefield vice-presidents Brad Newman-Bennett and Scott MacPherson report the following:
Deal: 21,942-square-foot, five-storey retail/office building, Water Street, Vancouver. Price: $10.4 million.
From: Colliers International, Edmonton. Colliers’ agents David Kraus, Darryl McGavigan, and Angela Wu-Kemp report the following sale:
Deal: 35,239-square-foot industrial manufacturing facility in Nisku. Price: $8.75 million.
PHOTO NAI DELTA
From: NAI Commercial, Vancouver. NAI agent Doug O’Neill reports the following sales:
Deal: 13,000-square-foot industrial building on 2.25 acres, Fosters Way, Delta. Price: $4.7 million.
Deal: Three-acre development site, 96 Avenue, Langley. Price: $4.2 million.
From: Colliers International, Vancouver. Colliers senior vice-president Sam Nakhleh reports the following sale:
Deal: 3,488-square-foot, free-standing retail building, Panorama Drive, Coquitlam. Price: $1.41 million.
From: Colliers International, Vancouver. Colliers vice-president Brian McKenzie, with Macdonald Realty agents Wayne Tullis and Ashley Tullis reports the following sale:
Deal: 15,000-square-foot (sic) vacant industrial building, Broadway Street, Port Coquitlam. Sold to the Electrical Workers Pension Plan. Price: $3.35 million.
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