Pacific Reach ‘very excited’ being new owner of iconic Hotel Georgia

July 31, 2017 2:13 pm

the vancouver sun

The historic Hotel Georgia has been sold for $145 million.

The new owner of the elegant building at 801 West Georgia is Pacific Reach, a Vancouver company that recently sold the seniors care chain Retirement Concepts to a buyer from China for more than $1 billion.

The Hotel Georgia purchase also includes the penthouse from the 48-storey residential tower next door, along with sixth-floor offices. The price of the total package was just over $160 million.

“We think it’s the best hotel in Canada,” said Pacific Reach’s co-founder and CEO Dr. Azim Jamal.

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