Inn at the Quay
Sales Date: June 2012
Client: Narland Properties
Cap Rate: 8.6%
As the exclusive advisor to Narland Properties (Quayside) Ltd., Colliers Hotels conducted a targeted marketing campaign for the Inn at the Quay, approaching logical investment groups.
Overlooking the Fraser River, this recently renovated 126-room hotel is the preeminent boutique-style hotel in the area and offers an excellent complement of facilities and amenities to service both leisure and corporate demand. The offering represented a truly unique and strategic opportunity to acquire a distinguished waterfront asset in the metro Vancouver area.
The hotel was acquired by Temple Hotels Inc. (TSX: TPH). The Vendor, Narland Properties is a regional real estate company that had purchased the property as part of a larger parcel years prior.