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Courtyard by Marriott Toronto Downtown

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Courtyard by Marriott Toronto Downtown

Sales Date: May 2013
Keys: 575
Price: $75,850,000
Client: Highgate Holdings

Buyer: Groupe Jesta
Cap Rate: 7.8%

Colliers International Hotels was retained by Highgate Hotels in the sale of the 575-room Courtyard by Marriott Toronto Downtown. The Hotel is exceptionally located on a large 1.5 acre site in downtown Toronto and includes ±14,000 SF of meeting space, 108 parking spaces in a 2-level underground garage, approximately 10,000 SF of ground floor retail space and a variety of amenities. 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.

The Hotel sold to Groupe Jesta, a leading real estate and management company, with offices in Montreal, New York, London, Paris and Berlin, offering a global portfolio of commercial office, retail, residential, industrial, and hospitality properties.