Besides the four-star hotel and convention center, FPC alsoacquired 52,000 sf of office space and a parking garage. Inannouncing the purchase, FPC president Nora Duke called theacquisition "a major milestone" for the company, noting that thedeal expands her firm's CRE footprint into an eighth Canadianprovince.

Not only is Saskatchewan seen as a promising area of economicgrowth, its capital city now has a population exceeding 180,000.Duke says the property was attractive to FPC for a variety ofreasons beyond favorable demographics. "Delta Regina is a premiere,multi-use facility that enhances our portfolio of high-qualityhotel and commercial real estate assets," says Duke.

The inn is typically a regional leader in room rates, she notes,feeding off business, convention and tourist lines. Delta Reginawill celebrate its 20th anniversary in 2008. Besides the 25-storyhotel and conjoined Saskatchewan Trade and Convention Center, thecomplex also has a water park and is connected via skywalk to acasino and Regina's largest shopping center.