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Building Condition Assessments for Twelve Hotels
Building Condition Assessments for Twelve Hotels, Canadian Pacific Hotels, Morrison Hershfield

In preparation for the sale of twelve CP Hotels under a Real Estate Investment Trust (REIT) program, CP Hotels required a building condition assessment of each hotel in order to consider risks and options prior to sale.   The hotels are located across Canada, with a total of 5,870 suites.

Morrison Hershfield's technical expertise, combined with our ability to assemble qualified teams across Canada, allowed us to respond to the assessment requirements in an expeditious and cost-effective manner.   The building assessments identified the dollars needed, per location, for major repairs and/or replacements over the next five years.  With this information, the REIT Board of Directors analyzed their risks and options, prior to setting up the REIT, for a total value of over $886 million.  These hotels became part of the “Legacy REIT” portfolio.

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