Northland acquires T.O.’s King Blue Hotel from Greenland
Oct 1, 2021
Northland Properties has acquired the soon-to-be-completed King Blue Hotel in Toronto from Greenland Canada, which is developing the 118-suite boutique facility as part of its twin-tower King Blue Condominiums.
Located at the corner of King St. West and Blue Jays Way in the downtown core, the King Blue development comprises 48- and 44-storey towers connected by a six-storey podium constructed from the remains of the historic Westinghouse manufacturing plant which was built in 1927.
Financial details of the transaction were not released.
“Northland’s acquisition of the King Blue Hotel is a great addition to our family-owned portfolio of hotels, restaurants, resorts and sports assets,” said Tom Gaglardi, CEO of the family-owned Northland Properties Corp., in the announcement.
“With an existing collection of 60 hotels across five countries, this impressively constructed hotel serves as a landmark expansion at an important address in Toronto’s Entertainment District.”
Northland is an international hotel/resort and entertainment owner which is active in five countries, employs about 13,000 and owns 63 properties as well as operating 175 restaurants and venues.
The company is also the owner of the Dallas Stars NHL franchise.
Northland Properties has acquired the soon-to-be-completed King Blue Hotel in Toronto from Greenland Canada, which is developing the 118-suite boutique facility as part of its twin-tower King Blue Condominiums. Located at the corner of King St. West and Blue Jays
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