AJ Capital Partners announced it has acquired The Commons Hotel in Minneapolis from the Rockbridge investment firm. In 2017, the hotel will undergo a conversion into a Graduate Hotel. The eight-story, 304-room, full-service hotel is located at the heart of the University of Minnesota’s campus.
With over 20,000 square feet of meeting and event space, a fitness center, as well as The Beacon Public House—the hotel’s restaurant and bar, The Commons Hotel is an established destination for University visitors and business travelers alike. Located just one block from U of M's distinguished Medical Center, the hotel benefits from having direct indoor access to the McNamara Alumni/Conference Center.
“This acquisition exemplifies our strategy of investing in well-located assets in multi-dimensional university-anchored markets,” said Tim Franzen, president of Graduate Hotels. “We look forward to introducing Graduate Minneapolis to the Minneapolis and U of M communities in late 2017.”
The hotel will undergo a renovation, which will touch all guest rooms, common areas, meeting and event spaces and the hotel lobby. In addition, Graduate Hotels will introduce an innovative, locally-centric food and beverage program designed to foster interaction between hotel guests and locals.