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SITQ Sells 48.5% Stake In Westin Portfolio

Caisse de dépôt et placement du Québec’s real estate unit SITQ has sold its 48.5% stake in a Westin hotels portfolio.

    Caisse de dépôt et placement du Québec’s real estate unitSITQhas sold its 48.5% stake in aWestinhotels portfolio. The company has given up its shareholding inBayshorein Vancouver,Harbour Castlein Toronto and three other hotels located in Ottawa, Calgary and Edmonton.

    The company aims to concentrate portfolio and investment efforts on office real estate. The stake was acquired by an institutional investor, expected to be a Canadian pension scheme, addsIPE.

    Click here for the release fromSITQ.

    Click here for additional coverage fromIPE.

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