MONTREAL, Sept. 4, 2012 /CNW Telbec/ - GE Capital, Canada's Franchise
Finance business announced today that it has provided a $20 million
senior term loan facility to Temple Real Estate Investment Trust (TSX
Venture: TR.UN) to support the acquisition of the Hilton Garden Inn
located in West Edmonton, Alberta.
The six-story, 160-room hotel is located near Edmonton's West End
Business District as well as the West Edmonton Mall, the city's top
"GE Capital has helped us complete two acquisitions since the beginning
of the year," said Arni Thorsteinson, president and chief executive
officer of Temple REIT, based in Winnipeg, Manitoba. "GE's Franchise
Finance team understands our business and the hotel sector, and it
shows in the execution of the transactions."
"We are very pleased to be able to support Temple REIT in this second
acquisition," said Edward Khediguian, senior vice president of GE
Capital's Franchise Finance business here. "We always look for ways to
help clients build value, grow their business and create return on
invested equity. We do so by providing expertise and focus in the hotel
and restaurant space. We've financed more than $1 billion in hotel
transactions in Canada over the last 10 years, and we remain committed
to the industry."
Temple REIT is an open-ended real estate investment trust focused on
owning and acquiring hotel properties in primary and secondary markets
across Western Canada. It owns and operates 15 properties offering
1,868 guest rooms across Western Canada, with eight hotels offering 834
guest rooms located in the Fort McMurray, Alberta market.
About GE Capital, Franchise Finance
GE Capital, Franchise Finance is a leading lender to the franchise
finance market, serving the restaurant and hospitality industries. In
the Canadian hotel market, we provide financing for nationally known
brands in the limited and select-service segments of the industry.
With more than 20 offices throughout Canada, GE Capital (gecapital.ca) offers a wide variety of financial products and services to address
commercial financing and fleet management needs in all phases of a
business' lifecycle. From equipment finance to working capital and
growth financing to large asset-based and restructuring loans, we apply
our wealth of industry expertise and develop custom solutions for your
company. Some of the industry sectors we specialize in include
transportation, construction, healthcare, agriculture, forestry,
manufacturing, oil & gas, wholesale & retail, restaurant and hotel
GE Capital offers consumers and businesses around the globe an array of
financial products and services. For more information, visit gecapital.com or follow company news via Twitter (@GECapital).
GE (NYSE: GE) works on things that matter. The best people and the best
technologies taking on the toughest challenges. Finding solutions in
energy, health and home, transportation and finance. Building,
powering, moving and curing the world. Not just imagining. Doing. GE
works. For more information, visit the company's website at ge.com.
SOURCE: GE CAPITAL CANADA
For further information:
GE Capital, Canada