HREC Investment Advisors arranged the sale of the 12-property, 897-key IGO Legacy Hotel Group portfolio, with properties located in Michigan, Minnesota, and Wisconsin.
The portfolio includes the AmericInn Menominee – Menominee, MI, AmericInn Hotel & Suites Duluth South Black Woods Convention Center – Proctor, MI, Comfort Inn Saint Paul East – Oakdale, MN, Country Inn & Suites Albert Lea – Albert Lea, MI, Country Inn & Suites Baxter – Baxter, MI, Country Inn & Suites Duluth North – Duluth, MI, Country Inn & Suites Shoreview – Shoreview, MI, Country Inn Walker – Walker, MI, Country Inn & Suites Appleton – Appleton, WI, Country Inn & Suites Green Bay North – Green Bay, WI, Country Inn & Suites Madison – Monona, WI, and the Radisson Hotel River Falls – River Falls, WI.
HREC Investment Advisors exclusively represented the seller, IGO Legacy Hotel Group, on this transaction. The marketing and negotiations were led by Ronn Thomas (SVP – Minneapolis and Broker of Record for Minnesota), Scott Kaniewski (Managing Director – Chicago), Lee Kerfoot (Managing Director – Minneapolis), Tim Storey (VP – Minneapolis), and Taylor Ponath (VP – Minneapolis).
After more than 35 years in the hospitality industry, IGO Legacy Hotel Group, a Duluth-based hotel group, sold its portfolio of more than a dozen hotels across Minnesota, Wisconsin, Iowa, and Michigan. “I want to personally thank Ronn Thomas and his team for their handling of each of the 12 hotel sales. 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. We could not have selected a better partner for the last chapter of our company,” expressed Cheryl Goldberg, Managing Partner at IGO Legacy Hotel Group.
