RC Hotel Ventures purchases Richmond, BC hotel for $22 million

On April 28, 2006 RC Hotel Ventures Ltd. purchased the "President Radisson Hotel" in Richmond, British Columbia, from President Asian Enterprises Inc. and President Hotel Inc. for $22 million. RC Hotel Ventures Ltd. is an affiliate of Retirement Concepts Seniors Services Ltd., BC's largest operator of retirement homes.

A team from Fasken Martineau advised RC Hotel Ventures in this transaction, including Andrew Jackson (corporate), Carmine Boskovich (real estate) and David McDonald (labour).