Temple Hotels Inc. has acquired a Holiday Inn Express near Ottawa, Ont. and an extended-stay property in Yellowknife, N.W.T.

The acquisition of the Holiday Inn Express was supported by GE Capital Canada’s Franchise Finance business, which provided $14.5 million to Temple Hotels. The six-storey hotel consists of 115 rooms and is located in Nepean.

“Temple Hotels has been a client of ours since early 2012, when we financed its acquisition of the Radisson Fort McMurray hotel,” says Edward Khediguian, senior vice president of GE Capital’s Franchise Finance business. “We value our relationships in this industry. We know our clients trust our ability to provide value-add growth capital with competitive structures that help them build value and expand their businesses.”

The Yellowknife property, known as Nova Court, was acquired for $21.68 million. The four-storey building is close to the Yellowknife airport, and includes 106 suites and 88 parking spaces on a 2.37-acre site.

The first floor also has approximately 8,300 square feet of unfurnished space, which Temple plans to redevelop in 2014. The $4.8-million renovation will add nine additional hotel rooms and a 750-square-foot breakfast room.