Minneapolis' Historic Grand Hotel Sold for $33 Million
From The Star-Tribune:
The Grand Hotel in downtown Minneapolis has sold for $33 million -- $3 million less than what was originally discussed -- after months of uncertainty. Pebblebrook Hotel Trust said Wednesday that it bought the 140-unit upscale hotel and that it plans to invest about $4.5 million in it over the next two years to refurbish guest rooms, the lobby and other areas. It will be managed by Kimpton Hotels and Restaurants. Click here for the full story.
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