West Vancouver-based Larco Enterprises Inc. hospitality wing has acquired the Fairmont Hotel Vancouver at Georgia and Burrard streets from Ivanhoé Cambridge for $180 million.
The Caisse de dépôt et placement du Québec, which Ivanhoé Cambridge represents, announced plans at the end of May 2014 to sell a number of properties across North America, including the Fairmont Empress Hotel in Victoria (which Nat Bosa bought for $48 million) as well as the Fairmont Hotel Vancouver.
Its purchase of the Fairmont Hotel Vancouver boosts Larco’s hotel holdings to 10.
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