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Sunray Hotels acquires downtown Regina office property adjacent to existing hotel
Sunray Hotels has expanded its real estate holdings in downtown Regina with the acquisition of a three-storey office and retail building located within the city’s central business district.
The 30,000-plus square foot property includes modern office space and ground-floor retail, with a Tim Hortons among the existing tenants. The building also features more than 170 parking stalls across surface and underground levels.
The transaction was arranged by Toronto-based CFO Capital, which announced the financing on behalf of Sunray Hotels chairman and CEO, Ray Gupta, and president, Sandeep Gupta.
The newly acquired office building is adjacent to a hotel already owned by Sunray Hotels. According to CFO Capital, the two properties will share both structured and surface parking facilities, a move expected to improve operational efficiency and support long-term asset value.
The name of the office property and the financial details of the transaction have not been publicly disclosed.
Sunray Hotels is a privately owned Canadian hotel investment and management company with a portfolio that includes branded hotels across multiple provinces. The Regina acquisition marks a continued effort by the company to expand its footprint in Western Canada.
