Closure of $330M Landmark Acquisition of Ontario Resort Properties
Freed Corp. has successfully become the owner of three popular Ontario resort properties, following the closing of a $330 million acquisition.
On Thursday, the Toronto-based developer announced its new subsidiary, Freed Hotels & Resorts/Resort Communities LP, acquired Deerhurst Resort, Horseshoe Resort, and the remaining development lands at Blue Mountain Resort — all of which are located within two hours of the Greater Toronto Area.
Also as part of the landmark acquisition, Freed has rolled in its interest in Muskoka Bay Resort, creating what the developer describes as an “outstanding” portfolio of Northern Ontario properties.
The successful closure of the acquisition establishes Freed — historically known for its activity on the condo-building front — as the largest resort community owner, operator, and developer in Canada.
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Freed Corp. has successfully become the owner of three popular Ontario resort properties, following the closing of a $330 million acquisition.
On Thursday, the Toronto-based developer announced its new subsidiary, Freed Hotels & Resorts/Resort Communities LP, acquired Deerhurst Resort, Horseshoe Resort, and the remaining development lands at Blue Mountain Resort — all of which are located within two hours of the Greater Toronto Area.
Also as part of the landmark acquisition, Freed has rolled in its interest in Muskoka Bay Resort, creating what the developer describes as an “outstanding” portfolio of Northern Ontario properties.
The successful closure of the acquisition establishes Freed — historically known for its activity on the condo-building front — as the largest resort community owner, operator, and developer in Canada.
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The developer says the properties will all be managed by its subset, Freed Hotels & Resorts, with its portfolio expanding to include over 1,000 existing hotel rooms and employing over 2,000 people locally.
In the long-term, the developer is projecting in bringing over 8,000 new developable units to the Northern Ontario market, with 3,000 of those units being delivered over the next five years.
“It is a privilege to have the opportunity to own and evolve these iconic properties. The Ontario resort industry is tired and ready for modern accommodations and amenities to compliment and further enjoy the beautiful surroundings,” said Freed’s founder and CEO.
“We live in one of the most beautiful parts of the world and should position it strategically for the world to come and visit and/or reside. We are very excited, to say the least, and look forward to playing an instrumental role in year-round employment and community initiatives as well.”
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In the long-term, the developer is projecting in bringing over 8,000 new developable units to the Northern Ontario market, with 3,000 of those units being delivered over the next five years.
“It is a privilege to have the opportunity to own and evolve these iconic properties. The Ontario resort industry is tired and ready for modern accommodations and amenities to compliment and further enjoy the beautiful surroundings,” said Freed’s founder and CEO.
“We live in one of the most beautiful parts of the world and should position it strategically for the world to come and visit and/or reside. We are very excited, to say the least, and look forward to playing an instrumental role in year-round employment and community initiatives as well.”
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123 Eagle Peak Dr
Richmond Hill Ontario L4S2W1
Detached
For Sale Listed for: $3,688,000
4 Bedrooms
4 Bathrooms
3 Garages
Property Type: Detached, 2-Storey
Building Age: 0 - 5 years
Size: 3,500 - 5,000 feet²
Lot Size: 67.14 × 460.33 feet
Annual Property Taxes: $15,492.80 / 2021
Parking: Attached 3 Garages, 23 parking
Basement: Full
Description:
Never Lived Luxury 3 Car Mansion. 4831 SqFt, Back To Ravine, Top School Trillium Wood Ps, Richmond Hill High, St Teresa High, Close To Shopping, Restaurants, Main Floor 10 Ft Ceiling, Master Washroom Has Heated Floor. Built In Top Appliances.
For Booking please call:
Hojjatollah Izady
Realtor
HomeLife/Cimerman Real Estate Ltd., Brokerage
647-772-9502
hoizady@yahoo.com
.
Richmond Hill Ontario L4S2W1
Detached
For Sale Listed for: $3,688,000
4 Bedrooms
4 Bathrooms
3 Garages
Property Type: Detached, 2-Storey
Building Age: 0 - 5 years
Size: 3,500 - 5,000 feet²
Lot Size: 67.14 × 460.33 feet
Annual Property Taxes: $15,492.80 / 2021
Parking: Attached 3 Garages, 23 parking
Basement: Full
Description:
Never Lived Luxury 3 Car Mansion. 4831 SqFt, Back To Ravine, Top School Trillium Wood Ps, Richmond Hill High, St Teresa High, Close To Shopping, Restaurants, Main Floor 10 Ft Ceiling, Master Washroom Has Heated Floor. Built In Top Appliances.
For Booking please call:
Hojjatollah Izady
Realtor
HomeLife/Cimerman Real Estate Ltd., Brokerage
647-772-9502
hoizady@yahoo.com
.