Alchemy Completes Sale of Residence Inn and Courtyard in Woodbury, Minnesota
Local private investor acquires Marriott dual-hotel portfolio in Minneapolis metro with plans for brand-retaining renovations
Alchemy Real Estate Advisors has completed the sale of the Residence Inn and Courtyard Woodbury, Minnesota on behalf of a public REIT. The assets are located in the desirable Woodbury submarket of the greater Minneapolis–St. Paul metropolitan area.
The buyer is a local private investor and owner of a portfolio of core-branded hotels across the region. The investor plans to retain both the Residence Inn and Courtyard flags and implement a comprehensive renovation program to enhance long-term asset performance.
The hotels benefit from strong brand recognition and a highly visible location within the Woodbury submarket. The location offers convenient access to major transportation corridors, corporate demand generators, retail amenities, and the broader Minneapolis–St. Paul Metro. These fundamentals position the portfolio to capitalize on the strong base of business and leisure demand in the market.
Given the broader Minneapolis metro has faced a slower recovery in recent years, the Alchemy team focused the marketing efforts on regional investors who recognize the longer-term trajectory for this market.
“Our team ran a competitive process and drove value by highlighting the long-term strength of the Woodbury submarket and the core institutional Marriott branding for this portfolio. We selected a well-capitalized local buyer who remains committed to renovating the hotels to best position them for continued growth. We secured hard money at contract execution and oversaw an extremely smooth closing in this environment. This speaks to our ability to execute on institutional product in the amidst broader macro volatility,” said Adam Montufar, Principal and Founder of Alchemy Real Estate Advisors.
Alchemy conducted a traditional, broadly marketed process that attracted a wide range of private and institutional investors. The selected buyer distinguished itself through a compelling combination of pricing, certainty of close, and a significant non-refundable deposit at contract execution. Terms of the transaction were not disclosed.
Contact Bennett Webster at (312) 339-3698 or [email protected] to discuss upcoming assignments, valuation needs, or portfolio strategies.
