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Courtyard by Marriott Edmonton Downtown

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Courtyard by Marriott Edmonton Downtown

Sales Date: March 2011
Keys: 178
Price: $26,000,000
Client: Concord Hospitality Enterprises JV Lubert Adler Real Estate Funds
Buyer: MIG Real Estate, LLC

Colliers Hotels acted as joint advisor in the sale of the 177-room Courtyard by Marriott Edmonton Downtown. The Property generated significant interest from local, regional and national buyers, and after a two-round competitive bid process, the selected buyer was a US-based MIG Real Estate, LLC (one of two cross-border buyers for 2011 — both of which were represented by Colliers). The purchaser retained the existing manager, Concord Hospitality Enterprises. This leading select-service hotel in downtown Edmonton is located on Jasper Street, a heavily traveled route in Edmonton’s Central Business District, and on an in-fill location along the North Saskatchewan River offering pristine views of the river and downtown Edmonton skyline. Selling at $147,000 per room this transaction marked the start of many Canadian select-service sales that followed in 2011.

For More Information, Please Contact:

Robin McLuskie

Managing Director | Hotels

Toronto Downtown

Robin has been with Colliers since 2003 and is responsible for hotel and resort investment sales, business development and client management. As Managing Director of Canadian hotel brokerage operations, she is an industry leader representing Canada's largest hotel owners, focusing on developing long-term client relationships and helping to establish Colliers as the advisor of choice to institutional capital and private investors.

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