MINNEAPOLIS — Hodges Ward Elliott (HWE), a 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 new owner plans to terminate the Marriott management agreement and operate the luxury lifestyle hotel as an independent property.
The HWE team of John Bourret, managing director, Ryan Lindgren, director, and David Auer, associate, represented the seller of the Le Meridien Chambers Minneapolis, 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 amenities,” said Lindgren.
“Minneapolis continues to be viewed very positively by the institutional investment market,” added Bourret. “Though this was a small deal, the asset quality and location within the market really drove investor interest.”