The Toronto-based Four Seasons Hotel has been bought off for a top score property price for the transaction of each room. The transaction was brokered by a real estate firm, JLL. They had the property sold off to companies owned by Shahid Khan, on behalf of Kingdom Holding Company.
The Jacksonville Jaguars which is an NFL club is also owned by CEO, Shahid Khan; the one who bought the hotel. This happens to be the first time that Shadid is purchasing a hotel; a price of $225 million was paid for the property, despite the interest that a lot of prospective buyers showed.
A senior VP at JLL, Mark Sparrow said; “The property’s prominent location and proximity to Four Seasons’ global headquarters generated a depth of international investor interest. 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.”