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28 July 2016

Japan’s APA Group Buys Vancouver-based Coast Hotels for $210 million

On July 28, 2016, APA Group (“APA”) – owner of Japan’s largest hospitality organization – entered into a share purchase agreement with Okabe Co. Ltd (“Okabe”), another Tokyo-based company, for the purchase of all of the issued and outstanding shares of Vancouver-based Coast Hotels (“Coast”) for $210 million. The transaction is expected to close in early September 2016. In total, Coast has 36 hotels in its North American hotel portfolio, with properties throughout British Columbia, Alberta, Northwest Territories, the Yukon, Alaska, California, Hawaii, Oregon and Washington.

APA was represented by Farris, with a team led by Mitchell Gropper (real estate and mergers & acquisitions), Sandy Sheinin (tax), David Selley (competition) and Roland Hurst (capital markets and mergers & acquisitions).

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