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Bank of Montreal acts as lender in Artifact Group's acquisition of Double Tree by Hilton Downtown Montreal from Pandox

Date Closed

April 12, 2024

Lead Office

Montréal

Value

95.00 Million USD

On April 12, 2024, Artifact Group expanded its hospitality portfolio in Quebec through its acquisition of the 595-key DoubleTree by Hilton Downtown Montreal Hotel (the "property") one of the major components of the Complexe Desjardins in the city's entertainment district. The property was acquired from Pandox for C$80 million, with an additional C$15 million which will be invested into the structure and facade of the building by Artifact Group. The property includes 45,600 square feet of event space and a suite of amenities including food and beverage outlets, an indoor pool, spa, fitness centre, and more. Bank of Montreal acted as lender in the financing of Artifact Group's acquisition of the property.

McCarthy Tétrault advised Bank of Montreal with a team led by Marie-Josée Marcoux and Audrey Mannoury that included Xin Yue Zhang, Sylvie Giroux and Martin Latour (Real Property and Planning).

 

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