April 3, 2019 Comments Off on Starwood Snags Downtown Minneapolis Tower for $315M Views: 838 Midwest, Minnesota, National News

Starwood Snags Downtown Minneapolis Tower for $315M

Connecticut-based Starwood Capital Group is acquiring Wells Fargo Center in Downtown Minneapolis for a reported $315 million. The sellers are Blackstone and a Hines partnership that includes minority investors Wells Fargo and law firm Faegre Baker Daniels.

The landmark 57-story tower at 90 South Seventh St. encompasses 1.2 million square feet and is 80% leased to tenants such as Wells Fargo, Castlelake L.P., KPMG, and Faegre Baker Daniels. Designed by Cesar Pelli, the 1987-era property contains a full-block indoor pedestrian promenade that houses a 100-foot-high ceiling rotunda on one side, and a formal lobby on the other. The new owner will look to renovate the office complex and add amenities.

Eastdil Secured’s Stephen Livaditis and Ken Glomb represented the sellers.

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