Caisse de dépôt et placement du Québec’s real estate unit SITQ has sold its 48.5% stake in a Westin hotels portfolio. The company has given up its shareholding in Bayshore in Vancouver, Harbour Castle in 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, adds IPE.
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