Iowa firm pays $2.8M for former Canterbury Inn

The 175-room Americas Best Value Inn & Suites in Shakopee has been sold.

American Group of Properties, based in West Des Moines, Iowa, paid $2.8 million to buy the limited-service hotel from Chippawa Falls, Wisc. Heyde Cos., according to a certificate of real estate value filed in Scott County this week.

The deal closed Nov. 25.

The property is at the highly visible intersection of Canterbury Road and Highway 169. It has a large, central indoor courtyard and design details, like a horse painted on the bottom of the swimming pool, that link the hotel to Canterbury Park, the state's largest horse racing track, less than a half-mile away.

Heyde will continue to operate the attached Arizonas Restaurant and Lounge, according to a story in the Shakopee Valley News.

Reported bizjournals.com