Courtyard by Marriott Toronto Downtown
Sales Date: August 2015
Buyer: KingSett Capital and InnVest REIT
Colliers International Hotels is pleased to announce the sale of the 575-room Courtyard by Marriott Toronto Downtown to a partnership between KingSett Capital and InnVest REIT.
This 575-key Property is situated on a large 1.5 acre parcel in the heart of downtown Toronto. Strategically positioned between the prestigious Bloor-Yorkville neighbourhood to the north and financial core to the south, the Hotel includes two towers located on Yonge Street, and features 14,000 square feet of meeting space, two restaurants, 4,600 square feet of leasable retail space and a 101-space underground parking garage. The Property is situated in an irreplaceable downtown location in the nation’s largest City, near an abundance of attractions and demand generators, including the Toronto Eaton Centre, Queen’s Park, and the University of Toronto and Ryerson University campuses. Colliers acted on behalf of KingSett Capital and InnVest REIT.
The hotel sold for $99 million making it the second largest hotel to transact in Toronto year-to-date 2015 and the fifth largest single asset to trade in the City since 2005.
A copy of the press release can be downloaded here >>