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.
About Hodges Ward Elliott:
Hodges Ward Elliott (“HWE”) is the premier boutique real estate capital markets advisor, empowered to deliver exceptional results across a broad spectrum of business lines and product types. HWE’s multi-disciplined platform includes commercial, hotel and debt capital markets teams, with offices in Atlanta, Chicago, Dallas, Los Angeles, New York, Miami, Washington D.C., and London. As a privately held company, HWE is dedicated to cultivating long-term client relationships and takes pride in the reputation and track record established over its 45-year history. HWE has closed over $70 billion of transactions, including more than $26 billion over the past 5 years. For more information, please visit https://hodgeswardelliott.com/.
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SOURCE Hodges Ward Elliott