A closed 130-room hotel, formerly a Holiday Inn & Suites and most recently a Motel 6, located at 2365 43rd Street Northwest in Owatonna, Minnesota, has been sold for $3.2 million. The property spans across 4.54 acres and is set to reopen as a Doubletree by Hilton. The sale was facilitated by Mike Wilmes of Timm & Associates Hotel Real Estate Brokers on behalf of the seller, Minnwest Bank & Redwood Falls, to the buyer, La Main Capital Group LLC.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $3,200,000
• Address: 2365 43rd Street Northwest, Owatonna, MN
• Market: Owatonna, MN
• Acres: 4.54

The buyer, La Main Capital Group LLC, acquired the property from Minnwest Bank & Redwood Falls for a price of $3.2 million. The transaction was brokered by Mike Wilmes of Timm & Associates Hotel Real Estate Brokers. The hotel, which previously operated as a Holiday Inn & Suites and later as a Motel 6, will undergo a transformation and reopen as a Doubletree by Hilton.