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$33M Refinancing for Hyatt in Canada

MONTREAL-An affiliate of CNL Hospitality Properties obtains a floating-rate refinancing from GMAC Commercial Mortgage of Canada Ltd. for the 20-story, 605-room property near the Montreal convention center.

By Brian K. Miller | Updated on March 30, 2004

MONTREAL-An affiliate of CNL Hospitality Properties has obtained a $33-million refinance loan for the 605-room Hyatt Regency Montreal. The lender was GMAC Commercial Mortgage of Canada Ltd.

Located near the convention center at 1255 Jeanne-Mance St., the 20-story property is part of the Complexe Desjardins, a multi-use complex with a shopping mall and more than two million sf of meeting space. The hotel was developed in the mid-1970s for the Montreal Winter Olympics. It was previously operated under the Meridien brand. It was re-flagged as a Hyatt property in December.

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