Colliers Hotels Brokers Landmark Transaction in Toronto’s Downtown Entertainment District
Colliers Hotels is pleased to announce it acted as the sole advisor and exclusive agent to Greenland Group Canada in the sale of the 118-key King Blue Hotel to Northland Properties Corporation. Designed to make a striking impact at Toronto's famous corner of King St West and Blue Jays Way, this new upscale and contemporary-modern boutique hotel is in the final stages of construction and scheduled to open this Fall.
"Northland's acquisition of the King Blue Hotel is a great addition to our family-owned portfolio of hotels, restaurants, resorts and sports assets." "With an existing collection of 60 hotels across five countries, this impressively constructed hotel serves as a landmark expansion at an important address in Toronto's Entertainment District", said Tom Gaglardi, CEO of Northland Properties Corporation.
Designed to the highest quality of standards, King Blue Hotel is situated within the seven-story tower of the King Blue Condominium Complex. Paying tribute to downtown Toronto's deep-rooted history, the hotel's front-facing exterior encompasses the original six stories of the Canadian Westinghouse Company Building built in 1927.
"We are pleased to have completed the final stage of this exciting development and wish Northland much success with the hotel." "It is a special location in such a culturally dynamic city, and the hotel will be a great addition to the Toronto market for both business and leisure guests," said Henry Cao, General Manager of Greenland Group Canada. “Greenland is proud for its first project in Canada to be recognized by a market leader like Northland Properties. We hope to continue to develop and deliver more properties in Canada.”
Perfect for business as well as leisure travel, guests can expect an unforgettable experience while staying at King Blue Hotel with 118 beautifully designed luxury guest rooms and suites, upcoming premium onsite restaurant, meeting and social spaces, and modern fully-equipped recreational facilities alongside a rooftop terrace perched high above downtown with views of King Street West and Blue Jays Way.
Blake, Cassels & Graydon LLP acted as legal counsel for Greenland and Stikeman Elliott LLP acted for Northland.Colliers Hotels acted as exclusive real estate advisors in this transaction. For more information, contact Alam Pirani or Robin McLuskie.