MINNEAPOLIS, Minn.—AJ Capital Partners announced today that it has acquired The Commons Hotel in Minneapolis, Minn., from investment firm Rockbridge. In 2017, the hotel will undergo a conversion into a Graduate Hotel. The eight-story, 304-room, full-service hotel is located on Washington Avenue at the heart of the University of Minnesota’s campus.
With over 20,000 square feet of meeting and event space, a fitness center, as well as The Beacon Public House—the hotel’s restaurant and bar, The Commons Hotel is an established destination for University visitors and business travelers alike. Located just one block from U of M’s distinguished Medical Center, the hotel benefits from having direct indoor access to the McNamara Alumni/Conference Center.
Created for travelers who seek memory-making journeys, Graduate Hotels are part of a well-curated, thoughtfully crafted collection of hotels that reside in the most dynamic, university-anchored cities across the country. Every property celebrates and commemorates the optimistic energy of its community, while offering an extended retreat to places that often played host to the best days of our lives. .
“It is with great pleasure that we announce the acquisition of The Commons Hotel,” says Tim Franzen, President of Graduate Hotels. “This acquisition exemplifies our strategy of investing in well-located assets in multi-dimensional university-anchored markets. We look forward to introducing Graduate Minneapolis to the Minneapolis and U of M communities in late 2017.”
The hotel will undergo a renovation, which will touch all guestrooms, common areas, meeting and event spaces and the hotel lobby. In addition, Graduate Hotels will introduce an innovative, locally-centric food and beverage program designed to foster interaction between hotel guests and locals.