Toronto Courtyard & Residence Inn Portfolio
Sales Date: June 2013
Keys: 632
Price: $70,550,000
Client: Concord Hospitality Enterprises JV Lubert Adler Real Estate Funds
Buyer: Morguard Corporation
Colliers International Hotels acted as joint advisor to US-based Concord Hospitality Enterprises & Lubert Adler Real Estate Funds in the sale of the 632-room Toronto Courtyard & Residence Inn Marriott Portfolio to Morguard Corporation. The properties included the Courtyard Toronto /Meadowvale, Residence Inn Toronto/Meadowvale, Courtyard Toronto Markham, Residence Inn Markham, and Courtyard Toronto Vaughan.
The Portfolio received significant interest from traditional Canadian capital sources, as well as US and international hotel investors seeking critical mass in the highly sought after Greater Toronto Area. The Hotel’s offered strong financial performance, best-in-class branding and outstanding locations in their respective competitive markets.
Colliers International Hotels acted as joint advisor to US-based Concord Hospitality Enterprises & Lubert Adler Real Estate Funds in the sale of the 632-room Toronto Courtyard & Residence Inn Marriott Portfolio to Morguard Corporation. The properties included the Courtyard Toronto /Meadowvale, Residence Inn Toronto/Meadowvale, Courtyard Toronto Markham, Residence Inn Markham, and Courtyard Toronto Vaughan.
The Portfolio received significant interest from traditional Canadian capital sources, as well as US and international hotel investors seeking critical mass in the highly sought after Greater Toronto Area. The Hotel’s offered strong financial performance, best-in-class branding and outstanding locations in their respective competitive markets.