The Hotel
Location
Investment Highlights
Home
Document Center
Privacy
Terms of Use
2301 E Old Shakopee Road,
Bloomington, MN 55425
Soon-to-be-Delivered, Premium Constructed Hyatt House Adjacent to the Country’s Largest Lifestyle Center –
Mall of America
Contact
The Opportunity
Berkadia Hotels & Hospitality has been exclusively retained in connection with the solicitation of offers to acquire the fee-simple interest in the soon-to-be delivered (July 2023), 150-room Hyatt House Mall of America/MSP Airport (the ‘Hotel’ or ‘Asset’) — a purpose-built, premium-constructed Hotel which will benefit from an award-winning brand in the upscale extended-stay hotel space. Upon completion, a new owner will be able to leverage the newest product offering in the submarket in conjunction with the Asset’s unparalleled location adjacent to the iconic Mall of America – the largest lifestyle center in the United States which attracts 40 million annual visitors. Moreover, the Bloomington City Council and the Bloomington Port Authority recently approved a plan to build a $422 million water park at the Mall of America, with the first phase potentially opening in the Fall of 2023 and the grand opening planned for late 2024 – a time frame which coincides seamlessly with the expected delivery of the Hyatt House in July 2023. With this expansion, a new owner will enjoy a significant uptick in demand over the coming years, as the Mall anticipates the project will attract an additional 20 million annual visitors and more than double its annual economic impact from over $2 billion to $4.3 billion.
Further bolstered by the Minneapolis – St. Paul International Airport, which sits approximately 1.2 miles from the subject Hotel and ranked as the country’s 13th busiest airport in 2021, serving 25.2 million passengers, the Hotel will be ideally located near the region’s primary transportation hub which benefitted from nearly 40 million annual passengers in 2019. This ‘airport plus’ location, combined with being proximate to countless nearby business parks, manufacturing companies, and tech/semi-conductor firms, and seamless access to downtown Minneapolis and St. Paul (15-minute drive) via the Highway 77 and Interstate 494 junction, will position the newly delivered Hyatt House to capture a broad base of high-yielding demand on a year-round basis.
The Hyatt House Mall of America/MSP Airport offering represents a rare opportunity for a potential buyer to acquire a newly delivered, premium-branded, extended-stay Hotel at Certificate of Occupancy, built with quality construction methods and requiring no going-in capital. Furthermore, offered unencumbered of management, a new owner will have the ability to implement their own strategic business plan to drive robust top-line performance, while leveraging the extended-stay hotel’s efficient operating model to yield impressive margins and strong cash-flow. When paired with potential tax/financial incentives via an opportunity zone location within a top 25 US metropolitan lodging market, the ability to assume an attractive C-PACE loan below-market and place senior debt within the capital stack, numerous nearby corporate expansions, and the expectation of MSP Airport to return to pre-pandemic levels by 2024, the Hyatt House presents an exceptional investment opportunity in the current economic landscape.
The Hotel
Fee-Simple
Tenure
July 2023
Anticipated Open Date
150
Guestrooms
& Suites
4.63 Acres
Land Area
102,493 SF
Building Area
4
Floors
#: 01-027-24-34-0069
Parcel
2301 E Old shakopee road, bloomington, mn 55425
(located within an opportunity zone)
Location
Event SPace
Self parking ($15 Daily)
Parking
• state-of-the-art fitness center
• 24/7 business center
• indoor pool
• complimentary high speed wi-fi
• Complimentary mall of america/msp
airport shuttle service
Additional
Amenities
• On-Site restaurant
& bar (H Bar)
• Complimentary
Breakfast (Breakfast
bar)
• Sundry/convenience
store (H Market)
Food &
Beverage
non-union
Labor
Primed to Capitalize on Immediate Local Development & the Greater Region’s Significant Economic Growth Trajectory
ADDITIONAL VALUE-ADD OPPORTUNITIES VIA OPPORTUNITY ZONE LOCATION
& ATTRACTIVE/ASSUMABLE
C-PACE FINANCING
Offered Unencumbered of Management with Outstanding Anticipated Top & Bottom-Line Performance
Rapidly Growing Extended-Stay Brand with Proven Historical Market Penetration
Irreplaceable Location Adjacent to the Country’s Largest Lifestyle Center & Further Bolstered by a Diversified Demand Channel Mix
Bloomington Submarket Surpassing Minneapolis CBD/St. Paul RevPAR Levels
Newly Purpose-Built (July 2023 Delivery), Premium-Constructed Hyatt House Equipped with a Superior Product Offering & Distinguished Finishes
Investment Highlights
Highly Accessible Hotel Supported by Connectivity & Compression from a Top 25 Metro’s Most Frequented Downtown/Urban Markets – Minneapolis and St. Paul
The Location
Mall of America
Minneapolis – St. Paul International Airport (MSP)
Corporate Overview
MINNEAPOLIS-ST.PAUL, MINNESOTA
Minneapolis – St. Paul International Airport (MSP)
BLOOMINGTON, MINNESOTA
Mall of America
SHOPPING & DINING OPTIONS
+580
ANNUAL VISITORS
40M
MOST POPULAR ATTRACTION
IN THE UNITED STATES
#1
Since its opening in 1992, Mall of America has revolutionized the shopping experience for tens of millions of visitors every year. A leader in retail, entertainment, and attractions, Mall of America is one of the top tourist destinations known throughout the world and the most visited tourism attraction in the United States. The Mall remains the largest retail and entertainment destination in North America with over 520 stores, more than 60 different dining options, 7-acre Nickelodeon Universe theme park, 1.3-million-gallon aquarium, two mini golf courses and several other world-class attractions.
Throughout its 27 years of operations, Mall of America has hosted thousands of events including celebrity appearances, autograph signings, concerts and community events, and has been a site for several feature films and television shows. The Mall generates more than $2 billion annually in economic impact for the state of Minnesota and has put Minnesota on the map as a premier tourist destination, attracting more than 40 million guests annually from all over the world.
Employees Supported
13,000
ANNUAL ECONOMIC IMPACT
+$ 2B
Minneapolis – St. Paul International Airport (MSP) provides daily departures to 27 international destinations and 136 destinations within the United States and served 25.2 million passengers in 2021, a nearly 70% YoY increase, indicating a strong recovery from pandemic-impacted travel (record 39.6M passengers served in 2019). Ranking as the 13th busiest U.S. airport by passenger traffic in 2021 and 17th for aircraft operations, MSP Airport is also a base for hometown carrier Sun Country Airlines and is Delta Air Lines’ second-largest hub.
J.D. POWER 2022 NORTH AMERICA AIRPORT
SATISFACTION STUDY
#1
‘BEST LARGE US AIRPORTS’
THE WALL STREET JOURNAL (2022)
#3
The 3,400-acre transportation hub comprises a major economic powerhouse, supporting more than 86,900 jobs, $15.9 billion in business revenue, $3.7 billion in personal income, $2.5 billion in local purchases, and $546 million in state and local taxes.
The Minneapolis-St. Paul region features a strong, multi-faceted economy and is considered one of the nation’s most economically robust regions, thanks to its strong base of 18 Fortune 500 headquarters and vast concentration of financial services, manufacturing, consumer goods, and inventive research and development companies. Further strengthened by a highly skilled and diverse workforce, the ‘Twin Cities’ are an ideal location for business operations of all types and sizes.
MINNEAPOLIS MSA →
COMPANIES WITH REVENUES EXCEEDING $1 BILLION
35
FINANCIAL SERVICES JOBS
+155,000
BUSINESS SERVICES JOBS
+318,000
GALLERY: INTERIOR & EXTERIOR RENDERINGS
GALLERY
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
© 2023 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
JAKE PIETRAS
Associate Director
410.940.9497
Jake.Pietras@Berkadia.com
ERIC YIANKES
Real Estate Analyst
219.477.8827
Eric.Yiankes@Berkadia.com
MAURICIO RODRIGUEZ
Managing Director
240.204.5133
Mauricio.Rodriguez@Berkadia.com
KATELYN REYNOLDS
Senior Real Estate Analyst
301.202.3549
Katelyn.Reynolds@Berkadia.com
Financing:
DAN HAWKINS
Managing Director
240.204.5139
Dan.Hawkins@Berkadia.com
RYAN LINDGREN
Managing Director
312.845.1884
Ryan.Lindgren@Berkadia.com
MELISSA TSOURMAS
Associate Director
312.845.1889
Melissa.Tsourmas@Berkadia.com
Investment Sales:
CONTACT Us
BACK TO TOP
MINNEAPOLIS-ST.PAUL, MINNESOTA
Corporate Overview
1,000 SF
(1 meeting room)
J.D. Power 2022 North America Hotel Guest Satisfaction Index (NAGSI) Study Hyatt House #1 among Upscale Extended-Stay Brands
J.D. Power 2022 North America Hotel Guest Satisfaction Index (NAGSI) Study Hyatt House #1 among Upscale Extended-Stay Brands
J.D. Power 2022 North America Hotel Guest Satisfaction Index (NAGSI) Study Hyatt House #1 among Upscale Extended-Stay Brands
Home
Investment Highlights
The Hotel
Location
DOCument Center
Terms of Use
Privacy
J.D. Power 2022 North America Hotel Guest Satisfaction Index (NAGSI) Study Hyatt House #1 among Upscale Extended-Stay Brands
J.D. Power 2022 North America Hotel Guest Satisfaction Index (NAGSI) Study Hyatt House #1 among Upscale Extended-Stay Brands
GALLERY 1/3
GALLERY
Contact
The Opportunity
Berkadia Hotels & Hospitality has been exclusively retained in connection with the solicitation of offers to acquire the fee-simple interest in the soon-to-be delivered (July 2023), 150-room Hyatt House Mall of America/MSP Airport (the ‘Hotel’ or ‘Asset’) — a purpose-built, premium-constructed Hotel which will benefit from an award-winning brand in the upscale extended-stay hotel space. Upon completion, a new owner will be able to leverage the newest product offering in the submarket in conjunction with the Asset’s unparalleled location adjacent to the iconic Mall of America – the largest lifestyle center in the United States which attracts 40 million annual visitors. Moreover, the Bloomington City Council and the Bloomington Port Authority recently approved a plan to build a $422 million water park at the Mall of America, with the first phase potentially opening in the Fall of 2023 and the grand opening planned for late 2024 – a time frame which coincides seamlessly with the expected delivery of the Hyatt House in July 2023. With this expansion, a new owner will enjoy a significant uptick in demand over the coming years, as the Mall anticipates the project will attract an additional 20 million annual visitors and more than double its annual economic impact from over $2 billion to $4.3 billion.
Further bolstered by the Minneapolis – St. Paul International Airport, which sits approximately 1.2 miles from the subject Hotel and ranked as the country’s 13th busiest airport in 2021, serving 25.2 million passengers, the Hotel will be ideally located near the region’s primary transportation hub which benefitted from nearly 40 million annual passengers in 2019. This ‘airport plus’ location, combined with being proximate to countless nearby business parks, manufacturing companies, and tech/semi-conductor firms, and seamless access to downtown Minneapolis and St. Paul (15-minute drive) via the Highway 77 and Interstate 494 junction, will position the newly delivered Hyatt House to capture a broad base of high-yielding demand on a year-round basis.
The Hyatt House Mall of America/MSP Airport offering represents a rare opportunity for a potential buyer to acquire a newly delivered, premium-branded, extended-stay Hotel at Certificate of Occupancy, built with quality construction methods and requiring no going-in capital. Furthermore, offered unencumbered of management, a new owner will have the ability to implement their own strategic business plan to drive robust top-line performance, while leveraging the extended-stay hotel’s efficient operating model to yield impressive margins and strong cash-flow. When paired with potential tax/financial incentives via an opportunity zone location within a top 25 US metropolitan lodging market, the ability to assume an attractive C-PACE loan below-market and place senior debt within the capital stack, numerous nearby corporate expansions, and the expectation of MSP Airport to return to pre-pandemic levels by 2024, the Hyatt House presents an exceptional investment opportunity in the current economic landscape.
J.D. Power 2022 North America Hotel Guest Satisfaction Index (NAGSI) Study Hyatt House #1 among Upscale Extended-Stay Brands
J.D. Power 2022 North America Hotel Guest Satisfaction Index (NAGSI) Study Hyatt House #1 among Upscale Extended-Stay Brands
Ralph DePasquale
BoR #40414059
Ralph DePasquale
BoR #40414059