Edina Galleria developer buys Sofitel hotel

The Hotel Sofitel Minneapolis in Bloomington has been sold to WB Hotel Partners, an entity majority owned by Galleria mall developer Warren Beck, according to a source with knowledge of the deal who asked not to be named because they were not authorized to speak publicly.

Sofitel Luxury Hotels confirmed that the property changed hands last Wednesday, but provided few other details.

"While the new owners are considering rebranding the hotel, Sofitel will continue operating as it has been following the closing of the real estate transaction," the company said in a statement. "Sofitel has notified their employees at the hotel and is committed to facilitating a smooth transition with uninterrupted service to their guests."

The brand and management are expected to change over on Nov. 1, a source told the Minneapolis/St. Paul Business Journal.

With 282 rooms, Hotel Sofitel Minneapolis ranks No. 16 among the Business Journal's List of the largest Twin Cities hotels. It is the only Sofitel-branded hotel in Minnesota.

The seller, Addison, Texas-based Accor Business & Leisure North America, bought the hotel for $27.5 million in March 2006. Hennepin County valued the property at $15.7 million for property tax purposes.

Beck's Gabbert & Beck Inc. sold the Galleria last year to Houston-based Hines Global REIT Inc. for $127 million, but he still owns the attached 225-room Westin Edina Galleria under a separate business entity.

Beck and his father-in-law, Don Gabbert, developed the upscale Galleria shopping center around Gabberts Design Studio and Fine Furniture in 1974.

Reported by:  Mpls St Paul Business Journal