Page ContentHilton Canada sells its last five hotels in CanadaDate Closed: 9/19/2006Value: C$243 million On September 19, 2006, Hilton Canada Co. completed the sale of the last five hotels it owned in Canada for approximately $243 million. Northstar Hospitality Limited Partnership, a partnership comprised of Cadim Fonds Inc., Westmont Hospitality Group and Regime de Rentes du Mouvement Desjardins, purchased the Hilton Toronto Downtown, Hilton Toronto Airport and the Hilton Montreal Dorval hotels for an aggregate purchase price of approximately $180 million. InnVest Real Estate Investment Trust purchased the Hilton Quebec City and the Hilton Saint John hotels for an aggregate purchase price of approximately $63 million. All five hotels will continue to be managed by Hilton Canada Co. Acquisition financing was provided to each of the purchasers by GE Real Estate Financing Holding Company. Hilton Canada Co. was also advised by Ian Taylor and Caroline Emond of BLG in respect of the Hilton Quebec City hotel.