Temple REIT has completed the previously announced acquisition of the Hilton Garden Inn West Edmonton. The six-storey, 160-guestroom hotel, located near Edmonton’s West End Business District and just minutes from the West Edmonton Mall, was bought for $31 million and was funded by first mortgage loan in the amount of $20 million and the balance in cash. Temple will undertake a $2 million capital expenditure program over approximately 18 months, consisting primarily of guest room and lobby/corridor refurbishment.
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