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CSM Pays $9M for Suburban Holiday Inn

ST. LOUIS PARK, MN-Cleveland-based Boykin Lodging Co., which owned it with Interstate Hotels, sells the 197-room hotel located near the intersection of Interstate 394 and US 169.

By Jim McCartney | Updated on August 15, 2004

ST. LOUIS PARK, MN-CSM Lodging recently paid $9.3 million for the Holiday Inn Minneapolis West, a 197-room hotel located near the intersection of Interstate 394 and US 169. Boykin Lodging Co., a Cleveland-based hotel REIT, confirms the sale of the property it owned in a joint venture with Interstate Hotels and Resorts.

Boykin officials say it will use the net proceeds from the sale to reduce the outstanding balance on its credit facility. CSM, based in Minneapolis, says the property is centrally and conveniently located to all major attractions and businesses in the Twin Cities. The property features a four-story atrium lobby, indoor pool, whirlpool, weight room, executive suites and more than 10,000 sf of meeting and event space. There are three food and beverage outlets onsite: Martha’s Midwestern bistro, a restaurant; Chappy’s Lounge, a bar; and Java Heaven, a coffee bar.

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