KingSett Capital, InnVest buy Toronto's Courtyard by Marriott Hotel
Canadian real estate private equity firm KingSett Capital and InnVest Real Estate Investment Trust (TSX: INN.UN) have completed their acquisition of the Courtyard by Marriott Hotel in downtown Toronto. The deal, priced at $99 million, provides KingSett with a two-thirds interest in the hotel, and InnVest with a one-third interest. The property consists of two towers containing 575 rooms. Earlier this year, KingSett and InnVest bought a majority stake in Toronto’s Fairmont Royal York Hotel for $186.5 million.
27 August 2015•4 mins read
