Minneapolis

The hotel investment and management firm has acquired and will operate the 127-room Courtyard by Marriott Madison East, the 130-room Fairfield Inn & Suites Madison East and the 115-room Hampton Inn Madison East Towne Mall Area.

The property is located in the Saint Paul Opportunity Zone segment and when completed Waterford Bay will be one of the first Opportunity Zone projects in St. Paul.

The project is a joint venture with The McKinney Fund & Company, with Central Bank of St. Louis and Central Bank of the Midwest providing the construction financing for the project.

The 175-key extended-stay hotel, which is under construction, will be located at 315 First Ave., near the Mayo Clinic's downtown campus.

If the building has an inherent personality, it can be repurposed, says John Rupp.

The firm, which received $18 million in new funding earlier this year, reports that it plans to centralize its US-based workforce in Chicago at the mHUB building at 965 W. Chicago Ave.

JLL is expected to move its existing teams in Westmont and Lombard and its approximately 350 employees, to Oakmont Point this fall.

The firm behind Built states that the new platform will offer tenants turn-key, pre-built space fully furnished with best-in-class finishes and modern workstations.