{"id":1004306057,"date":"2019-03-07T01:54:13","date_gmt":"2019-03-07T09:54:13","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004306057"},"modified":"2021-05-10T02:07:48","modified_gmt":"2021-05-10T10:07:48","slug":"apple-hospitality-buys-mn-hotel-for-32m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/apple-hospitality-buys-mn-hotel-for-32m\/","title":{"rendered":"Apple Hospitality Buys MN Hotel for $32M"},"content":{"rendered":"
\"\"<\/a>

Hampton Inn & Suites Downtown St. Paul<\/p><\/div>\n

Apple Hospitality REIT has purchased the 160-key Hampton Inn & Suites by Hilton in downtown St. Paul, Minn., for $31.7 million, or roughly $198,000 per key. The seller was an entity connected to Vista Host.<\/p>\n

Built on the site of the former Seven Corners hardware store, a city landmark since 1933, the hotel opened in November 2016.  Located at 200 7th<\/sup> St., the asset includes a business center, fitness room, indoor pool and on-site convenience store.<\/p>\n

The hotel is close to Xcel Energy Center, Saint Paul RiverCentre, Roy Wilkins Auditorium and Ordway Center for the Performing Arts. Additionally, the property is within walking distance of a variety of restaurants and retail options.<\/p>\n

\u201cSt. Paul is a vibrant city with a diversified economy, home to numerous corporate offices, including 3M, Ecolab, The Travelers Cos. and Securian Financial Group,\u201d<\/em> said Nelson Knight, executive vice president & CIO of Apple Hospitality, in prepared remarks. Last July, the REIT purchased a Hampton Inn & Suites hotel in Atlanta<\/a> for $29.5 million.<\/p>\n

The RevPAR for the Minneapolis\/St. Paul market increased by 4.5 percent in the 12 months ending in January, compared to the prior 12-month period, according to STR data.<\/p>\n

Image via Google Street View<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The 160-key Hampton Inn & Suites by Hilton opened in 2016 on the site of the former Seven Corners, a city landmark since 1933. <\/p>\n","protected":false},"author":748,"featured_media":1004306072,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21751,21783,13,36076,21742],"tags":[32950,33032,35170,37653],"class_list":["post-1004306057","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-hotel","category-investment","category-midwest","category-minneapolis-st-paul","category-latest","tag-apple-hospitality-reit-inc","tag-revpar","tag-str","tag-vista-host-incorporated"],"acf":[],"yoast_head":"\nApple Hospitality Buys MN Hotel for $32M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/apple-hospitality-buys-mn-hotel-for-32m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Apple Hospitality Buys MN Hotel for $32M\" \/>\n<meta property=\"og:description\" content=\"The 160-key Hampton Inn & Suites by Hilton opened in 2016 on the site of the former Seven Corners, a city landmark since 1933.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/apple-hospitality-buys-mn-hotel-for-32m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-03-07T09:54:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-10T10:07:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/03\/Hampton-Inn-Suites-by-Hilton-Downtown-St.-Paul--e1551879151190.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"866\" \/>\n\t<meta property=\"og:image:height\" content=\"649\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Lucia Morosanu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/apple-hospitality-buys-mn-hotel-for-32m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/apple-hospitality-buys-mn-hotel-for-32m\/\",\"name\":\"Apple Hospitality Buys MN Hotel for $32M - 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