HFF closed the sale of the Crowne Plaza Minneapolis-St. Paul International Airport – Mall of America, a 430-key full-service hotel in Bloomington, Minn., near the Mall of America.
HFF marketed the property on behalf of the seller, a joint venture between Trinity Hotel Investors and BayNorth Capital. Kaeding Management Group purchased the offering free and clear of debt.
The Crowne Plaza is located at 3 Appletree Square in Bloomington approximately two miles from the Minneapolis-St. Paul International Airport and approximately one mile from the Mall of America. The hotel is approximately 11 miles southeast of downtown Minneapolis and 12 miles southwest of downtown St. Paul, and the property borders Fort Snelling State Park and Long Meadow Lake. The American Boulevard Station along the METRO blue line, which provides access from the Mall of America through downtown Minneapolis, is within walking distance from the property. The 13-story hotel has Martel’s Restaurant and Lounge, a Caribou Coffee kiosk, the area’s largest junior Olympic-sized indoor pool, whirlpool, 3,000-square-foot fitness center, business center and 13,400 square feet of meeting and event space.
The HFF investment sales team was led by managing directors Denny Meikleham and Daniel Kaufman and director Alan Suzuki.