Freed Corp. has announced the successful completion of a landmark $300 million (CAD) deal through funds and accounts managed by BlackRock—advised by TD Securities.
This simplifies Freed's debt structure while providing growth capital for the platform to develop, renovate and evolve the portfolio—building on its previous successful acquisition of Ontario properties in Deerhurst, Horseshoe, Muskoka Bay and Blue Mountain development lands.
As part of the deal, Freed Resort Communities Inc. has successfully acquired the remaining 29 per cent ownership interest from Skyline Investments in its resort portfolio, to have a consolidated 100 per cent interest. The acquisition solidifies Freed as the largest owner-operator of hotel and resort communities in Canada.
"We are very excited to grow our existing relationship with BlackRock and the subsequent opportunities it presents for executing our growth strategy across our hotel and resort portfolio in Ontario," says Peter Freed, founder and CEO of Freed Corp.
TD Securities acted as the exclusive financial advisor to Freed on this transaction.
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