July 22, 2010  Volume 17  Number 6







Deerhurst for sale just days after G8

Deerhurst Resort in Huntsville has been put up for sale just weeks after it played host to world leaders at the G8 Summit.

The owners have put the resort on the market for an undisclosed price. They say the time is ripe to attract international investment in Canada's real-estate sector.

Bill Stone, executive vice-president of CB Richard Ellis Hotels said “This is a strategic sale. They didn't have to sell at this point.”

Huntsville and the surrounding region saw more than $50 million in infrastructure upgrades in the months leading up to the G8 Summit. That included repaving the road to the swanky resort.

The resort was purchased in the 1990s by its current owners - a numbered Ontario company, Cornerstone Real Estate Advisers LLC and MassMutual Financial Group.

The resort has 400 rooms, two 18-hole golf courses, a 40,000 square foot meeting and exhibition space and 3,000 foot long airstrip.

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Last updated July 23, 2010