TORONTO — InnVest Real Estate Investment Trust has acquired the Regina-based Hotel Saskatchewan for $37 million.
“We are thrilled to complete such an important acquisition. This iconic hotel addition to the portfolio is InnVest’s fourth hotel purchase in the last nine months,” said Drew Coles, president and CEO, InnVest. “The acquisition fits our objective of enhancing our portfolio quality, scale and diversification. This asset is a perfect fit for InnVest’s unrivalled national platform. We feel very excited about working more with Marriott and the Autograph brand. This purchase further fortifies InnVest as the leading owner of hotels in the Canadian lodging industry.”
Hotel Saskatchewan is a full-service, upscale property featuring a restaurant, tea room, 14,000 sq. ft. of meeting space, and 3,600 sq. ft. of leased commercial space. The 224-room hotel will undergo rebranding to become a part of the Marriott Autograph Collection.
