Duluth, Minn.-based IGO Legacy Hotel Group’s 12-property, 897-key portfolio spanning Michigan, Minnesota and Wisconsin has been sold in a transaction facilitated by HREC Investment Advisors.
The portfolio includes primarily Country Inn & Suites branded properties in Michigan locations such as Albert Lea, Baxter, Duluth, Shoreview, and Walker, as well as Appleton, Green Bay and Madison in Wisconsin.
The portfolio also included the AmericInn Menominee in Menominee, Mich.; the AmericInn Hotel & Suites Duluth South Black Woods Convention Center in Proctor, Mich.; the Comfort Inn Saint Paul East in Oakdale, Minn.; and the Radisson Hotel River Falls in River Falls, Wis.
The Greenwood Village, Col.-based brokerage firm exclusively represented the seller in the transaction. Marketing and negotiations were led by Ronn Thomas, Scott Kaniewski, Lee Kerfoot, Tim Storey and Taylor Ponath.
“I want to personally thank Ronn Thomas and his team for their handling of each of the 12 hotel sales,” Cheryl Goldberg, managing partner at IGO Legacy Hotel Group, said in a statement. “They approached this responsibility with professionalism but also with the understanding that the sale of each hotel was not just an asset transaction, but also the unwinding of relationships that were deeply meaningful to our company.”
“It was a pleasure working with IGO Legacy Hotels. Every property in the portfolio was beautifully maintained and reflected the high standards of the IGO brand,” Thomas added.