HREC Investment Advisors has arranged the sale of the 149-room Sonesta Select Minneapolis Eden Prairie in Eden Prairie, MN. The property was acquired by Eden Hotels LLC, a local hotel owner/operator based in Minneapolis.
HREC Investment Advisors exclusively represented an affiliate of Service Properties Trust (SVC) as the seller in this transaction. The marketing and negotiations were led by Scott Stephens, senior principal/COO – Tampa; Monty Levy, managing director – Atlanta; Lee Kerfoot, SVP – Minneapolis and broker on record for Minnesota; Tim Storey, VP – Minneapolis; Ronn Thomas, SVP – Minneapolis; and Taylor Ponath, VP – Minneapolis.
“Yet again, we are very pleased to have successfully advised one of our key clients on the sale of this asset,” noted Levy. Added Storey, “We believe that this trade highlights the recovery occurring in the hospitality market in the Twin Cities.”
The hotel is located off Interstate 494, providing easy access to several corporate locations, the University of Minnesota, US Bank Stadium, downtown Minneapolis and several other demand generators. It is located near various demand generators, including six corporate locations, Eden Prairie Center, Flying Cloud Airport, Hennepin Technical College and the new light rail expansion.
Eden Prairie is a city 12 miles southwest of downtown Minneapolis in Hennepin County and the 16th largest city in the State of Minnesota. The city is adjacent to the north bank of the Minnesota River, upstream from its confluence with the Mississippi River.
