Photo: Joel Bedford/Flickr
The century-old hotel, valued at an estimated $125 million, was just put up for sale in July along with another luxury hotel, the Fairmont Washington D.C. Georgetown. Ivanhoe, the real estate subsidiary of Caisse de Depot et Placement du Quebec, sold this hotel and other European properties in an effort to focus on other asset classes.
Larco officially took ownership on Friday November 1st according to the Ottawa Citizen. However, since the real estate firm is a privately held company, no information is available on the selling price of the 429-room hotel.
In public statements, the company said they aren’t planning on making any visible changes to the property though refurbishments will continue.