An Austin, Texas-based real estate company has bought the Marquette Hotel at IDS Center for $74.5 million, according to public documents filed Thursday.
The company is affiliated with JMI Realty, a private investment and development group for luxury hotels that has holdings in several states. JMI Realty is also the hotel development partner of the high-profile Nicollet Hotel Block, according to Bloomington-based United Properties, which is lead developer of that project.
The 281-room Marquette Hotel, located at 701 Marquette, is a Hilton hotel. The sale, which closed Jan. 28, averages more than $265,000 per room.
The 57-story IDS Center is attached, but has a different owner than the 12-story hotel.