Residence Inn Montreal Downtown

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Residence Inn Montreal Downtown

Sales Date: July 2012
Keys: 190
Price: $24,000,000
Client: Och-Ziff Real Estate

Buyer: Group Jesta
Cap Rate: 9.7%

Colliers International Hotels acted as joint advisor to Och-Ziff Real Estate (NYSE: OZM) in the sale of the 190-room Residence Inn by Marriott Montreal Downtown to Groupe Jesta. This high-performing extended stay hotel was marketed to a select group of domestic and international capital sources seeking prime downtown exposure in one of Canada’s largest hotel markets.

The Hotel is managed by Marriott International under a long term agreement. The purchaser invested significant capital expenditures directly after purchase and was motivated by the prime location and strong in-place cash flow. In addition, the purchaser has a long-standing history with Marriott through their European holdings.

Pour plus d’informations, veuillez contacter:

Russell Beaudry

Senior Director | Hotels

Vancouver

- A key member of the Canadian hotel team (over 250 lodging transactions completed across Canada since 2010) 
- Notable assignments include: St. Regis Toronto / Park Hyatt Toronto / Rosewood Hotel Georgia Vancouver / Fairmont Chateau Laurier Ottawa
- Skilled with land development and mixed-use projects including office, retail and residential

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