Innvest Sells Delta Centre-Ville

InnVest Real Estate Investment Trust completed the sale of the hotel commonly known as Hotel Delta Centre-Ville, in the city of Montréal, Province of Quebec.

The Delta Centre-Ville was acquired by an international joint venture partnership between affiliates of Brant Holdings and Beaumont Partners SA. As part of the Delta Centre-Ville sale, InnVest Real Estate Investment Trust, through its operating subsidiaries, will continue to oversee the property and Delta Hotels and Resorts will continue to manage the hotel until October 31, 2013 at which point, the hotel is expected to be converted to an alternative use.

InnVest Real Estate Investment Trust was represented by Davies Ward Phillips & Vineberg LLP, with a team that comprised Sébastien Savage, Mylène Nadeau and Christina Sauro. The purchaser was represented by Leo Rose from Schreeder, Wheeler & Flint, LLP and Marvin Liebman, Steven Chaimberg, Kiran Singh, Marissa Carnevale and Michel Ménard from Lapointe Rosenstein Marchand Melançon, LLP.

Brant Holdings was represented by a team from Stikeman Elliott LLP composed of William Rosenberg (corporate), Franco Gadoury and Philippe Kattan (tax) and Stefan Fews (real estate), as well as by Robert Crothers and Grace Yuen of Clifford Chance LLP. Beaumont Partners SA was represented by Simon Kiff and Will McDonald of Jones Day.