DEAL | Global Education Communities Corp. completed the sale of 718 Drake Street, Vancouver, on Nov. 28, 2023. The 12-storey, 143-room strata-titled hotel includes a White Spot on the ground floor. The sale price works out to $489,510 a room. The transaction was brokered by Avison Young, which described the sale as the largest hotel deal in Vancouver since the 2017 sale of Vancouver’s Rosewood Hotel Georgia for $145 million. Since rebranded the Grand Park Hotel and Suites Downtown Vancouver, 718 Drake Street was acquired by a local hotelier and developer who also operates the Grand Park Hotel Vancouver Airport in Richmond.
PRICE | $70,000,000
FROM | Global Education Communities Corp./Avison Young
