KWMC Toronto Acquires Toronto Hilton Hotel

KWMC Toronto Inc., in its capacity as the general partner of 145 Richmond Street West Limited Partnership (the “Purchaser”), completed the acquisition of the Toronto Hilton hotel, a well-known and established hotel located in the downtown financial core at 145 Richmond Street West in Toronto, at a purchase price of $140,000,000. The hotel was acquired from Northstar Hospitality GP Inc., in its capacity as the general partner of Northstar Hospitality Limited Partnership (the “Vendor”). The Purchaser's financing was arranged through Otéra Capital on behalf of CDPQ Mortgage Investment Corporation (the “Lender”), which is the commercial mortgage lending arm of Caisse de Dépôt et Placement du Québec.

The Purchaser was represented by Goldman Sloan Nash & Haber LLP, with a team led by Walter Traub and Georgea Wolfe (commercial mortgage lending and real estate) and assisted by Norman Goldman, Rodney Ikeda, Lydia Pilch, Robert Drake and Janet Domalik.

The Vendor was represented in-house by Chantal Laporte, and by Davies, Ward, Phillips & Vineberg LLP as external counsel, with a team led by Greg Southam and assisted by Mark Katz, David Reiner and Ioana Hancas.

The Lender was represented in-house by Raymond Bail and Geneviève Grenier and by Cassels Brock & Blackwell LLP as external counsel, with a team led by Lanny Abramson and Paul Muchnik (commercial mortgage lending and real estate) and assisted by Robert Lysy (real estate) and Frank Robinson (franchising).