Winnipeg Free Press - ONLINE EDITION

Temple REIT buys 50 per cent stake in Holiday Inn South for $5.5M

  • Print

Temple Real Estate Investment Trust has acquired a 50-per-cent stake in Winnipeg’s Holiday Inn South hotel, with plans to buy other half in 2013.

The Winnipeg-based trust said today it acquired the 50-per-cent ownership stake from unrelated third parties for $5.5 million.

The other 50 per cent interest in the hotel is owned by Lake Louise Limited Partnership (LLLP), 23 per cent of which is owned by a numbered Manitoba company owned by the wife of Temple REIT CEO Arni Thorsteinson.

Thorsteinson is also the president of the numbered company — 2668921 Manitoba Ltd. and 2668921 is the parent company of Shelter Canadian Properties Ltd., which manages Temple REIT’s assets.

It said Thorsteinson, who is a trustee of Temple, abstained from voting on the resolution approving the transaction.

Temple said it expects to acquire LLLP’s half interest in the hotel in 2013, subject to regulatory approvals.

murray.mcneill@freepress.mb.ca

 

Fact Check

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories?
Please use the form below and let us know.

* Required
  • Please post the headline of the story or the title of the video with the error.

  • Please post exactly what was wrong with the story.

  • Please indicate your source for the correct information.

  • Yes

    No

  • This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.

  • Cancel

Having problems with the form?

Contact Us Directly
  • Print

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

Have Your Say

Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?

Have Your Say

Comments are open to Winnipeg Free Press Subscribers only. why?

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.

letters

Make text: Larger | Smaller

LATEST VIDEO

Winnipeg Jets Bogosian-Little-Ladd

View more like this

Photo Store Gallery

  • Marc Gallant/Winnipeg Free Press. Local/Standup- BABY BISON. Fort Whyte Centre's newest mother gently nudges her 50 pound, female bull calf awake. Calf born yesterday. 25 now in herd. Four more calfs are expected over the next four weeks. It is the bison's second calf. June 7, 2002.
  • A baby Red Panda in her area at the Zoo. International Red Panda Day is Saturday September 15th and the Assiniboine Park Zoo will be celebrating in a big way! The Zoo is home to three red pandas - Rufus, Rouge and their cub who was born on June 30 of this year. The female cub has yet to be named and the Assiniboine Park Zoo is asking the community to help. September 14, 2012  BORIS MINKEVICH / WINNIPEG FREE PRESS

View More Gallery Photos

Poll

Do you support Canada's involvement in the fight against Islamic State?

View Results

View Related Story

Ads by Google