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Freed Corp., a leading Canadian experience-based real estate company, has closed a landmark $300 million note denominated in Canadian dollars through funds and accounts managed by BlackRock, one of the world’s largest investment and risk management providers. The transaction is intended to simplify Freed’s debt structure while providing growth capital to develop, renovate, and expand its hotel and resort portfolio. As part of the deal, Freed Resort Communities Inc. acquired the remaining 29 percent ownership interest in its resort portfolio from Skyline Investments, resulting in a fully consolidated 100 percent ownership position. This portfolio builds on Freed’s earlier acquisitions of Deerhurst, Horseshoe, Muskoka Bay and Blue Mountain development lands in Ontario and positions Freed as the largest owner-operator of hotel and resort communities in Canada, focused on four-season resort experiences.
Parties
Company
Freed Corp.
Company
Freed Resort Communities Inc.
Deal Type
Merger & AcquisitionIndustry
InfrastructureTransaction
$ 300,000,000Deal Status
ClosedClosing Date
06 December 2023