Minneapolis Investors Making Over $2.5M, 168-Room Texas Purchase

CORSICANA, TX-A group of Minneapolis investors, with a vested interest in Corsicana, TX, has added the 168-room Corsicana Inn to its portfolio. The plan is to renovate the near $2.5-million acquisition bought at a recent auction.

The investment group is keeping a low profile for its ongoing acquisitions in town, known as the headquarters for Collin Street Bakery, a popular fruitcake supplier, and the internationally known Russell Stover Candies Inc. The investors made the hotel buy under the name of Pleasure Lodging. It outbid six others for the six-acre asset at the intersection of Interstate 45 and US Highway 287, situated right across the highway from a 157-acre, mixed-use project that is part of the group’s Corsicana holdings. The investment group, operating under various entities, also owns two office buildings in town.