AJ Capital Partners Acquires The Commons Hotel in Minneapolis, Minnesota to Be Converted to Graduate Hotel
January 3, 2017 2:29pm
Minneapolis, Minn. – January 3, 2017 – AJ Capital Partners announced today that it has acquired The Commons Hotel in Minneapolis, Minnesota, from leading investment firm, Rockbridge. In 2017, the hotel will undergo a conversion into a Graduate Hotel. The eight-story, 304-room, full-service hotel is located on Washington Avenue 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.
Created for travelers who seek memory-making journeys, Graduate Hotels are part of a well-curated, thoughtfully crafted collection of hotels that reside in the most dynamic, university-anchored cities across the country. Every property celebrates and commemorates the optimistic energy of its community, while offering an extended retreat to places that often played host to the best days of our lives. Locations include Ann Arbor, Mi.; Athens, Ga.; Charlottesville, Va.; Madison, Wi.; Oxford, Ms.; and Tempe, Az., as well as Berkeley, Ca.; Lincoln, Ne.; and Richmond, Va. slated to open in 2017.
"It is with great pleasure that we announce the acquisition of The Commons Hotel,” says Tim Franzen, President of Graduate Hotels. “This acquisition exemplifies our strategy of investing in well-located assets in multi-dimensional university-anchored markets. 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 guestrooms, 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.
For more information on Graduate Hotels, please visit www.graduatehotels.com.
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aj capital partners,
the commons hotel,
Adventurous Journeys Capital Partners, based in Chicago, is an accomplished team of hospitality and real estate investors whose innate passion is to create a one-of-a kind portfolio of timeless assets. The counter-culture investors acquire, design and develop transformative real estate throughout the United States, Mexico, and the Caribbean. In fall 2014, AJ Capital Partners launched the Graduate Hotels collection. AJ Capital Partners continues to grow its portfolio of lodging investments, firmly establishing the group as visionary leaders in the lifestyle-driven investment industry. For more information on AJ Capital Partners, please visit www.ajcpt.com.
Rockbridge is an investment firm with nearly two decades of experience investing in real estate and operating companies. It has made more than 200 hotel investments in 38 states in transactions worth more than $5 billion. Through its deep in-house experience and strong foundation of industry relationships, Rockbridge has delivered a track record of high absolute returns across multiple cycles and is a leading investor in hospitality. Rockbridge is ranked as the ninth largest owner/operator of hotels in the nation by Hotel Business Magazine.
For additional information about Rockbridge, visit www.rockbridgecapital.com.
Contact: Meg Connolly Communications
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