According to CBC News, the city of Calgary has announced its plans to convert three downtown towers into residential housing and hotel units.
CFO Capital arranges construction financing for hotel‑office‑retail condominium
CFO Capital has announced the arrangement of construction financing for a "syndication of institutional funds," for the ground-up development of the 227,000 SF, 12-storey mixed-use building which includes the new Staybridge Suites Hotel by IHG
The development includes a brand new Staybridge Suites Hotel by IHG, office and retail condominiums, with two levels of underground parking situated on a 1.76-acre parcel along Dixon Road within close proximity to the Toronto Pearson International Airport.
According to CFO Capital: When the odds were against the developer, they continued to sell the office/retail units during challenging times. Not only were they affected by increasing rates but also rising construction costs. CFO Capital has worked alongside the developer since the acquisition and renovation financing of the Holiday Inn Airport East Toronto in 2017, to the construction of the subject project on the abutting lands.