Besides the four-star hotel and convention center, FPC also acquired 52,000 sf of office space and a parking garage. In announcing the purchase, FPC president Nora Duke called the acquisition "a major milestone" for the company, noting that the deal expands her firm's CRE footprint into an eighth Canadian province.

Not only is Saskatchewan seen as a promising area of economic growth, its capital city now has a population exceeding 180,000. Duke says the property was attractive to FPC for a variety of reasons beyond favorable demographics. "Delta Regina is a premiere, multi-use facility that enhances our portfolio of high-quality hotel and commercial real estate assets," says Duke.

The inn is typically a regional leader in room rates, she notes, feeding off business, convention and tourist lines. Delta Regina will celebrate its 20th anniversary in 2008. Besides the 25-story hotel and conjoined Saskatchewan Trade and Convention Center, the complex also has a water park and is connected via skywalk to a casino and Regina's largest shopping center.