January 13, 2011
Deerhurst Resort, in Ontario’s Muskoka cottage country, has been sold, according to The Toronto Star.
The buyer is Toronto-based developer Gil Blutrich’s Skyline International Development.
Blutrich paid $26-million for the 431-room property, one of the largest resorts in Canada to come to market, says The Star.
The U.S.-based owners put the property on the block in July of last year, just weeks after hosting the G8 summit presided over by Prime Minister Stephen Harper.
The deal is expected to close over the next 30 days, according to The Star.
Among Deerhurst’s amenities are two 18-hole golf courses, a 40,000-sq.-ft. meeting and exhibition space and its own private airport.
In 1998, the resort was purchased for $21.2-million. Since then, more than $60-million has been spent upgrading the property.
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