Jeff Brown Of NorthRock Real Estate Acquires Hyatt House Hotel In Rochester For $16.2M

The asset involved in the transaction is a hotel located at 110 Civic Center Drive Northwest in Rochester, MN. The property, known as the Hyatt House, comprises 172 rooms and has a price per key of $94,186. The total sale price for the hotel was $16,200,000. The development of the hotel was initially a $35 million investment by its developer when it opened in 2021.

Summary of transation details:

• Property Type: Hotel
• Transaction Amount: $16,200,000
• Address: 110 Civic Center Drive Northwest
• Market: Rochester, MN
• Buyer: Jeff Brown - NorthRock Real Estate
• Keys: 172
• Price per Key: $94,186

North Rock Hospitality Group expanded its local hotel portfolio to a total of 482 rooms with this acquisition. The Hyatt House was acquired from a Provo, Utah-based entity, with North Rock planning unspecified upgrades post-purchase.