Canadian Resort Sold for $35 Million

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Sequel Hospitality Investments Inc. has agreed to purchase the Touchstone on Lake Muskoka, a resort and condominium development for $35 million. 

Located on 22 waterfront acres in Bracebridge, Ontario, Touchstone is one of the few projects on the lake with entirely new build accommodation and amenities. 

Sequel plans to focus on condominium development, offering lakeside units priced from $229,000, with the option to place the units in the resort rental pool.

"Touchstone will compete internationally as a top-tier resort project," said Robert McLaughlin, president and chief operating officer of Sequel Hospitality Investments.

"Sequel Hospitality secured Touchstone Resort at well below replacement value which fits nicely with our investment criteria."

Two months ago, Touchstone announced plans for an online "clearance sale" auction for the remaining inventory of fractional units.