Bloomington investor buys Duluth Radisson

A Bloomington investor has bought the Radisson Hotel Duluth Harborview for an undisclosed price.

New York-based Trinity Hotel Investors sold the 288-room hotel last week.

The buyer, Carl Kaeding's Kaeding Management, plans a facelift to the downtown hotel that will include updates to the guest rooms, according a story in the Duluth News Tribune. Kaeding signed a 20-year extension with Radisson to keep the name.

The property is distinct in the city skyline due to its circular design and rotating top-floor restaurant overlooking Lake Superior.

Last fall there was a report that a different Twin Cities buyer, Wayzata-based Bay Ridge Properties,  emerged for the property, but that deal never came together. Bay Ridge is getting its foot in the door of the property though, managing food service there for Keading, the News Tribune said.

Chicago-based Paramount Lodging Advisors represented Trinity in the sale.

"The transaction was not without its challenges, including a waterline break the night prior to call for offers in the marketing process," said Paramount managing director Bennett Webster in a press release. "Despite the time delays induced by the flood, the renovations surrounding the water damage resulted in $3 million in improvements to the building, which ultimately drove considerable additional interest in the asset."

Reported by:  Minneapolis St. Paul Business Journal