Minneapolis, MN, August 25, 2011: HVS Capital Corp is pleased to announce that it served as exclusive advisor to Maddux Hotel Corporation in arranging the sale of the Radisson University Hotel in Minneapolis, Minnesota.
According to William Sipple, Managing Director of HVS Capital Corp, the hotel comprises 304 guest rooms and suites, multiple food and beverage outlets, and over 21,000 square feet of meeting and banquet space. The Property is located on the East Bank of central Minneapolis, two miles from downtown, and is on a ground lease on the University of Minnesota’s main campus. Orchestrating the transfer of that ground lease was an integral component of closing the deal.
“This transaction demonstrates not only the strong demand for well-positioned hotel assets, but also the appeal of university-related properties within established markets,” says Sipple, “This was a complex deal involving many stakeholders; HVS Capital understands what it takes to create a transaction structure that meets every constituent’s financial, operational, and legal objectives.”