The owner of an iconic Art Deco landmark that was Minneapolis' first true skyscraper has defaulted on a loan tied to the building, now a W hotel, turning the structure into the latest symbol of the luxury hotel industry's struggle with fallout from the coronavirus pandemic.
Loan on Iconic Minneapolis Skyscraper Faces Auction, Symbolizing Luxury Hotel Industry Struggles
Hotel Last Sold in 2015 for Record Price Per Room
By Clare Kennedy, Candace Carlisle
CoStar News
July 21, 2020 | 8:01 P.M.
RELATED ARTICLES
This news story is available exclusively to CoStar subscribers.
Watch the video to learn how you can access industry leading CRE news and the data analytics you need to drive success.
This news story is available exclusively to CoStar subscribers.
Ready to Learn More?
Sign Up For a Personalized Demo.
Sign Up For a Demo To Learn More.
Already A Subscriber? Sign In
IN THIS ARTICLE
- Properties
- W Hotel Minneapolis The Foshay
821 Marquette Ave, Minneapolis, MN
- Companies
- Ashford Hospitality Trust, Inc.
Real Estate
- W Minneapolis - The Foshay
Professional, Scientific, and Technical Services