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.
Canada’s tourism industry is on track for measured growth in 2025, with potential tailwinds from a weakened Canadian dollar and evolving domestic spending patterns. According to a recent report from the Business…
Germain Hotels and Reliance Properties have announced a recent partnership to open Le Germain Hotel Vancouver.
Spanish hotel chain RIU Hotels & Resorts is set to open its first Canadian establishment, the Riu Plaza Toronto, in late 2025. This addition will expand the company's urban portfolio to 12 properties worldwide.
Canada’s hotel average daily rate (ADR) and revenue per available room (RevPAR) were its highest for any February on record, according to data from CoStar.
