Kingdom Hotels (Toronto) completes C$165 million acquisition of Four Seasons Toronto
October 05, 2012
165.00 Million CAD
On October 5, 2012, Kingdom Hotels (Toronto), a subsidiary of Kingdom Holding Company, chaired by His Royal Highness Prince Alwaleed bin Talal bin Abdulaziz Alsaud, completed the acquisition and financing (first mortgage and mezzanine) of the new Four Seasons Hotel in Toronto from Bay Yorkville Limited Partnership, a new flagship for the Four Seasons brand for a purchase price of approximately C$165 million.
First mortgage financing was led by The Bank of Nova Scotia and mezzanine financing was provided by Pearlmark Mezzanine Realty Partners III, L.L.C.
McCarthy Tétrault LLP represented The Bank of Nova Scotia, as lead lender, with a team led by John Currie, and including Paul Galbraith.