CWB has provided $7,600,00 in acquisition financing for the Four Points by Sheraton Edmundston Hotel & Conference Center. The hotel was purchased by The Karwal Group Inc., furthering its expansion in Eastern Canada.
The hotel has reportedly underperformed, but given the new owner’s management profile and record of buying and improving challenged assets, CWB provided financing based on a bullish growth projection.
Four Points by Sheraton Edmundston Hotel & Conference Center has 103 guest rooms, 11 meeting rooms, offering 20,773 square feet of total event space.
The acquisition was reported by Patrick Schofield, senior manager, hotel finance at CWB.
The Karwal Group Inc is a Canada based, privately held company involved in the acquisition, development and management of high quality hotels affiliated with prestigious brands.
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