InnVest REIT Sells Diversified Eastern Canadian Hotel Portfolio to Glenwood Property Management
|Areas||Commercial Real Estate, Corporate and Commercial, Hospitality Law, Litigation, Mergers and Acquisitions, REITs and Income Securities|
Goodmans represented InnVest REIT and affiliated entities (collectively the Vendors) in their sale of a portfolio of Eastern Canadian hotels to Glenwood Property Management for approximately C$90 million. The portfolio included 14 hotels:
- two Holiday Inns in Toronto and London, Ontario,
- two Staybridge Suites in Guelph and London Ontario,
- three Quality Suites in Toronto, Montreal and Quebec City, and
- seven Comfort Inns: one in Kirkland Lake, Ontario, three in Rimouski, Riviere du Loup and Rouyn, Quebec, one in Bridgewater, Nova Scotia and two in Saint John and Campbellton, New Brunswick.