Origin Merchant Securities Inc. is pleased to announce that Widewaters Calgary Hotel Ownership Inc. (“Widewaters”) has completed a private placement of mezzanine debt for gross proceeds of $32,420,000. Net proceeds will be used for the development of a 320 room Hilton Garden Inn/Homewood Suites located at the intersection of 4th Street and & 7th Ave in Calgary’s Downtown East Village neighbourhood.
Origin Merchant Securities Inc. acted as financial advisor to Widewaters with respect to this transaction.
Widewaters Group is a vertically integrated real estate organization with over 30 years of development, construction, management and investment experience. Widewaters continues to develop and acquire quality real estate across North America. Widewaters has developed or acquired over 11.2 million square feet of retail, office, residential and hospitality projects including 23 hotels totaling more than 3,100 rooms in eleven US states and two Canadian Provinces. Widewaters is based in Syracuse, New York.
Origin Merchant Securities Inc. (“OMSI”) is a wholly-owned affiliate of Origin Merchant Partners. OMSI is an exempt market dealer that will agent private placements of debt and equity securities to finance the acquisition capital, growth capital or recapitalization needs of our clients. OMSI is registered as an Exempt Market Dealer with the Ontario Securities Commission.