HVS Capital Corp Successfully Arranges Sale of 3-Hotel Portfolio for Dolemo Development Corporation
HVS Capital Corp is pleased to announce that it served as exclusive financial advisor and successfully arranged a $42 million sale for Dolemo Development Corporation (based in Calgary, Canada) of its portfolio consisting of three hotels, two liquor stores and retail mall located in Northern Alberta and British Columbia, Canada. The strategic buyer that was sourced by HVS Capital Corp was able to unlock maximum value by leveraging their critical mass of existing hotels in the respective markets.
According to Josh Heiney, Vice President of HVS Capital Corp, the portfolio is comprised of 457-keys within the Stonebridge Hotel located in Fort St John, British Columbia and Stonebridge Hotel and Grande Prairie Inn located in Grande Prairie, Alberta. In addition to the hotels, this sale included two liquor stores and a 10,000 square foot retail center. These various assets are strategically located throughout Northern British Columbia and Alberta, catering to demand from the robust agriculture and natural resources industries.
[quote]?Given the tertiary and very unique locations of these assets, viable options for the seller were limited,? says Heiney. ?We feel that HVS Capital Corp achieved the ideal execution for the seller, which followed their own internal and extensive search for a feasible exit for this investment. HVS Capital Corp was able to utilize our vast hospitality relationships in order to structure the most accretive solution for Dolemo.?[/quote]