Kingdom Hotels (Toronto) Buys Four Seasons Toronto for $165 Million
|Areas||Banking and Finance Law, Commercial Real Estate, Hospitality Law|
Goodmans represented Four Seasons in connection with Kingdom Hotels (Toronto) Ltd.'s, a subsidiary of Kingdom Holding Company, chaired by His Royal Highness Prince Alwaleed bin Talal bin Abdulaziz Alsaud, acquisition and financing (first mortgage and mezzanine) of the new Four Seasons Hotel in Toronto from Bay Yorkville Limited Partnership, a new flagship for the Four Seasons brand. The transaction closed on October 5, 2012 for a purchase price of approximately $165,000,000. First mortgage financing was led by The Bank of Nova Scotia. Mezzanine financing was provided by Pearlmark Mezzanine Realty Partners III, L.L.C.