On November 15, 2012, Host Hotels & Resorts, consistent with its strategy to reduce its exposure to non-core, suburban, airport assets, closed on the sale of its 94.8% interest in the Toronto Airport Marriott Hotel for CAD$30.6 million and retained the FF&E reserve of CAD$1.7 million for total cash proceeds to Host of CAD$32.3 million. Host Hotels & Resorts was advised by Fasken Martineau with a team that included Dan Law (real estate), Mitchell Thaw (tax), Huy Do (competition), Paul Casuccio (HST) and Marvin Mikhail (corporate).
Client Work
Host Hotels & Resorts closes C$30.6 million transaction with the Toronto Airport Marriott Hotel
Fasken
Reading Time
1 minute read
Overview
Overview
Team
Team
- Daniel R. Law, Partner | Real Estate Law, Toronto, ON, +1 416 868 3479, dlaw@fasken.com
- Huy Do, Partner | CO-LEADER, COMPETITION, MARKETING & FOREIGN INVESTMENT | LEADER, SOUTHEAST ASIA GROUP, Toronto, ON, +1 416 868 3505, hdo@fasken.com
- Paul V. Casuccio, Partner | Commodity VAT & Tax, Toronto, ON, +1 416 868 3491, pcasuccio@fasken.com
