The new Element hotel in the North Loop was recently sold weeks before its doors opened for the first time.
Developer United Properties, owned by the Pohlad family, sold the 156-room hotel in late December for a little more than $34 million, according to an electronic certificate of real estate value made available Jan. 2.
The buyer was Duluth-based Lion Hotel Group.
The hotel sits above the new Fillmore Minneapolis music venue, set to have its first show in mid February. Guests can begin staying in the hotel Jan. 24.
The hotel is at 501 N. 6th Av., a stone’s throw from Target Field, where the Pohlad-owned Minnesota Twins play.
Lion Hotel Group had been working with United Properties to develop the hotel, the first Element hotel from Marriott International, Inc., to open in Minnesota. The hotel caters to guests looking for extended stays with in-room kitchens and oversized closets.
The hotel plans to offer a range of amenities including a rooftop patio with grills and a fire pit, a lobby with 16-foot high windows and more.
“The Element aligns well with the North Loop of Minneapolis” said Bill Godbe, the general manager of the Element Minneapolis, in a recent statement. “The area is home to some of the newest, most exciting entertainment options and centrally located in the downtown core. Our commitment to a relaxed and balanced lifestyle is a natural extension of the neighborhood. We are thrilled to bring this new hospitality option to healthy, active travelers in the Twin Cities.”
Last week, media preview tours were being given of the Fillmore and the attached Trax Burgers and Bar restaurant. The Fillmore wasn’t part of the Element sale.