Outside the Region: Heiss of Largo handles $90 million financing for 261-room hotel

Toronto, CA Kevin Heiss, managing director of Largo's Canadian operations, secured $90 million in financing for a 261-room full-service luxury hotel located in the city's Financial District. The hotel, currently known as the Trump International Hotel, will undergo a significant renovation to the lobby, guest rooms, public areas and food and beverage outlets. During renovations, the hotel will run as The Adelaide Hotel Toronto and upon completion it will be renamed The St. Regis Toronto, the first St. Regis hotel in Canada.

St. Regis Hotels & Resorts is a classic luxury hotel brand that is part of the Starwood Hotels & Resorts Worldwide, Inc. owned by Marriott International. St. Regis has 36 premier destination hotels worldwide including 11 in the United States. This will be the first St. Regis hotel in Canada. Heiss arranged a 7-year, fixed rate permanent loan with 30-year amortization.