MINNEAPOLIS, Jan. 25, 2021 /PRNewswire/ — Hodges Ward Elliott (“HWE”), the premier boutique real estate capital markets advisor, arranged the sale of Le Meridien Chambers Minneapolis, a 60-room hotel located at 901 Hennepin Avenue, in downtown Minneapolis, Minnesota.
The HWE team comprised of John Bourret, Managing Director, Ryan Lindgren, Director, and David Auer, Associate, represented the seller, Ashford Hospitality Trust, Inc. in the transaction.
“This offering was very attractive to potential investors for a variety of reasons, but primarily because of the superior rooms product and ameneties,” said Ryan Lindgren. Mr. Bourret added, “Minneapolis continues to be viewed very positively by the institutional investment market. Though this was a small deal, the asset quality and location within the market really drove investor interest.”
The new owner plans to terminate the Marriott management agreement and operate the luxury lifestyle hotel as an independent property.
read full article