MINNEAPOLIS-Pebblebrook Hotel Trust, a Bethesda-based REIT, has purchased The Grand Hotel Minneapolis at 615 S. Second Street from Istar Financial Inc. for $33 million. The 140-room hotel deal also includes 58,000 square feet of space leased to Life Time Fitness Inc. for its athletic club.
Pebblebrook plans to invest about $4.5 million for the renovation of the lobby, guest rooms and other public spaces. San Francisco-based Kimpton Hotels and Restaurants will manage the 14-story hotel. For the full story, go to Minneapolis/St. Paul Business Journal.
GlobeSt.com News Hub is your link to relevant real estate and business stories from other local, regional and national publications.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
