Record-breaking hotel sale in Toronto

The Four Seasons Hotel Toronto has been sold for a record asset price per room transaction.

Real estate firm JLL brokered the deal to sell the property on behalf of Kingdom Holding Company to firms owned by Shahid Khan, CEO of NFL club the Jacksonville Jaguars.

Khan is a first-time buyer of a hotel and paid $225 million amid a lot of interest from potential buyers.

"The property's prominent location and proximity to Four Seasons' global headquarters generated a depth of international investor interest," said JLL senior VP Mark Sparrow. "The size of this transaction exemplifies the strength of the Canadian lodging market, with Toronto, as an international gateway market, experiencing particularly strong hotel fundamentals and global interest."
 

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