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Investor buys La Tour Belvedere hotel in downtown Montreal

Caotree pays $39 million for 140-room hospitality property
The 140-room Tour Belevedere hotel in downtown Montreal sold for $39 million. (Olivier Gariépy/CoStar)
The 140-room Tour Belevedere hotel in downtown Montreal sold for $39 million. (Olivier Gariépy/CoStar)

A firm operating as Caotree Investments Inc. paid $39 million to acquire La Tour Belvedere, a downtown Montreal hotel, in a deal that values the property at more than three times its current municipal assessed value.

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