Daily News: February 22, 2012

GE Capital Provides $15MM for Temple REIT’s Radisson Acquisition


E Capital, Franchise Finance said it has provided a $15 million senior term loan facility to Temple Real Estate Investment Trust to support the acquisition of the Radisson Hotel & Suites Fort McMurray, Alberta.

Arni Thorsteinson, president & CEO, Temple REIT, said, “GE Capital proved to be very responsive to our needs and we are very pleased with the execution of this transaction.”

“We are very pleased to be able to support Temple REIT in this acquisition,” explained Edward Khediguian, senior vice president, GE Capital, Franchise Finance, Canada. “We have financed over $1B in hotel transactions in Canada over the last ten years, and remain committed to the industry.”

Temple REIT is an open-ended real estate investment trust focused on owning and acquiring hotel properties in primary and secondary markets across Western Canada. The REIT owns and operates 11 properties (1,375 guest rooms) across Western Canada with seven hotels (768 guest rooms) located in the Fort McMurray market.