Colliers Hotels is pleased to announce it acted as the exclusive agent in the sale of the 210-key Residence Inn by Marriott Montreal Downtown on behalf of Jesta Group to Moongate Real Estate Inc. (an offshore group comprised of shareholders of Rotana Hotels & Resorts, the largest Hospitality Management Company in the Middle East & Africa). The Hotel will continue to be managed by Marriott International under a long term management agreement. HVS Canada and HVS Asset Management acted as advisor to Moongate and will act as asset manager. CFO Capital arranged financing for the acquisition. Davies represented Jesta on the transaction as counsel. Thompson Dymond and WBM Partners acted as legal and tax advisers to Moongate.