Trinity Hotel Investors has sopld the 288-room Radisson Hotel Duluth Harborview for an undisclosed price to Bloomington, Minn.-based Kaeding Management, which plans a comprehensive renovation.
Chicago-based Paramount Lodging Advisors represented Trinity in the sale.
"The asset is an integral part of the downtown Duluth full-service room supply and an iconic part of the city’s skyline," said Paramount managing director Bennett Webster. "The transaction was not without its challenges, including a waterline break the night prior to Call For Offers in the marketing process. Despite the time delays induced by the flood, the renovations surrounding the water damage resulted in $3MM in improvements to the building, which ultimately drove considerable additional interest in the asset."