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Shorenstein Properties Acquires Minneapolis City Center for $202.5M

Shorenstein Properties Acquires Minneapolis City Center for $202.5M

Shorenstein Properties has closed on the acquisition of Minneapolis City Center, a 50-story mixed-use complex located in the heart of downtown Minneapolis. Shorenstein made the purchase on behalf of Shorenstein Realty Investors Ten L.P., a commingled fund formed in 2010 and with $1.2 billion of committed capital.…

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Chambers Street Properties Acquires Industrial Building in Rogers

Chambers Street Properties Acquires Industrial Building in Rogers

A New Jersey-based real estate investment trust, Chambers Street Properties, has acquired a warehouse/distribution building in the northwestern Minneapolis suburb of Rogers.…

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Chesapeake Lodging Trust Acquires 222-Room The Hotel Minneapolis

Chesapeake Lodging Trust Acquires 222-Room The Hotel Minneapolis

Chesapeake Lodging Trust has recently acquired The Hotel Minneapolis, a 222-room Marriott Autograph Collection hotel, for $46 million, or approximately $207,000 per key. The self-advised lodging real estate investment trust funded the acquisition with a borrowing under its revolving credit facility.…

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Hyatt Acquires Downtown Minneapolis Hotel

Hyatt Acquires Downtown Minneapolis Hotel

The Hyatt Hotels Corp. recently announced that a Hyatt affiliate acquired a select-service hotel, the 213-room Comfort Suites in downtown Minneapolis. Following $20 million in capital improvements, the hotel will be rebranded as Hyatt Place Minneapolis Downtown.…

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Valspar Announces $30M Campus Renovation, Expansion; St. Paul Reopens Ballpark Builder Selection Process

Valspar Announces $30M Campus Renovation, Expansion; St. Paul Reopens Ballpark Builder Selection Process

The Valspar Corp. announced plans to renovate its former headquarters building and expand its research-and-development campus in downtown Minneapolis. The campus is the anchor of the company’s research-and-development network worldwide, known as the Valspar Applied Science and Technology Centers (VAST).…

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AFL-CIO HIT Invests $15.7M in M-U Construction Uptown

AFL-CIO HIT Invests $15.7M in M-U Construction Uptown

The AFL-CIO Housing Investment Trust has invested $15.7 million in the construction of the City Walk Apartments, a mixed-use development in Minneapolis’ Uptown community.…

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Polaris Industries Breaks Ground on Expansion of Product Development Center

Polaris Industries Breaks Ground on Expansion of Product Development Center

Polaris Industries Inc. recently broke ground on an expansion of a product development center near Wyoming, Minn.…

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Hines Breaks Ground on New For-Rent Multifamily Complex

Hines Breaks Ground on New For-Rent Multifamily Complex

By Gabriel Circiog, Associate Editor Houston-based developer Hines has broken ground on the Dock Street residences, a new for-rent multifamily complex in the North Loop neighborhood of Minneapolis, close to Target Field, home of the Minnesota Twins pro baseball team. Developed by Hines and financed by the AFL-CIO Building Investment…

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Chicago-based REIT Acquires 235-Bed Student Housing Property in St. Paul

Chicago-based REIT Acquires 235-Bed Student Housing Property in St. Paul

By Gabriel Circiog, Associate Editor Chicago-based real estate investment firm Harrison Street Real Estate Capital has closed on a 235-bed student housing property dubbed Stadium Village Flats, the Minneapolis / St. Paul Business Journal reports. Situated at the University of Minnesota in St. Paul, the Stadium Village Flats were sold…

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Luxury Residential Development Announced in St. Louis Park

Luxury Residential Development Announced in St. Louis Park

By Gabriel Circiog, Associate Editor A new luxury residential development has been announced in the inner-ring Minneapolis suburb of St. Louis Park. A joint venture that includes Madison, Wis.-based E.J. Plesko & Associates Inc., Fiduciary Real Estate Development Inc. and Northwestern Mutual, both of Milwaukee, will develop the 36 Park…

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Normandale Lake Office Park Sells for $268M

Normandale Lake Office Park Sells for $268M

By Gabriel Circiog, Associate Editor The Normandale Lake Office Park, a five-building complex located in Bloomington, was acquired by an affiliate of Chicago-based Equity Group Investments. Situated on 23 acres of land at the southwest corner of I-494 and Highway 100 in the Southwest suburb of Bloomington, the 1.7 million-square-foot…

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Opus Seals Financing Deal for Nicollet Residences

Opus Seals Financing Deal for Nicollet Residences

By Gabriel Circiog, Associate Editor Opus Development has secured financing for a 27-story residential development in Minneapolis, the Minneapolis / St. Paul Business Journal reports. Dave Menke, senior vice president & general manager of Opus Development, confirmed the company has sealed a financing deal with an unnamed large regional bank.…

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