Investment Highlights

Recently Built Asset with Premium Amenities Recently

Ability to Capitalize on Ramp to Stabilization

The newly constructed Elliot Park Hotel opened in September 2018 and remains in like-new condition given its pandemicrelated closures and low occupancy experienced since reopening.

The Hotel has yet to receive enough runway to fully stabilize due to its opening less than two years before the onset of COVID-19. As the Property has started to begin its recovery, marked by the trailing city-wide recovery, new ownership stands to benefit from all upside cash flow potential through stabilization.

Kraus Anderson has redeveloped its downtown headquarters block into a mixed-use, live-work-play development, consisting of the company’s headquarters, a 17-story high-end apartment building, Finnegans House, and an underground parking garage. The Hotel’s integral location within the KA Block allows it to capitalize on the built-in demand generators within the development.

The Hotel boasts an A+ location within Elliot Park – one of Minneapolis’ oldest neighborhoods that has been revitalized through recent development projects, A+ Location Within

Continued Capital Investment Positioning Minneapolis with a Strong Long Term Growth Trajectory

The state of Minnesota is home to 16 Fortune 500 companies, six of which are situated in the city of Minneapolis. Both public and private capital have continued to make long term bets on the city, seeing an influx of redevelopment projects over the past few years, referenced as the Big Build. This push consists of $2 billion in projects, notably the opening of the new U.S. Bank Stadium and Commons Park, the new stadium neighborhood of Downtown East, and a significant renovation to Target Center.

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Offered Fully Unencumbered with Fee Simple Interest

The Hotel is being offered unencumbered of management and debt, along with being a nonunion operation and fee simple, providing true flexibility and optionality to a new investor.

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Attractive Basis to Recent Trades and Discount to Replacement Cost

The Elliot Park Hotel offering represents a rare opportunity to acquire a recently delivered, full-service, premium-branded Hotel, at a substantial discount to replacement cost as well as at a discount to recent trades in Minneapolis.