Summary:
- Mahaveer acquired the 46-key AmericInn by Wyndham in Detroit Lakes, Minnesota.
- The seller is Thief River Falls, Minnesota–based Cwikla Hospitality LLC.
- The hotel, built in 1995 sits on a 3-acre site on U.S. Highway 10.
MAHAVEER LLC, ACQUIRED the 46-key AmericInn by Wyndham Detroit Lakes in Detroit Lakes, Minnesota, from Cwikla Hospitality LLC for an undisclosed price. Marcus & Millichap brokered the property for the buyer.
The hotel, built in 1995, sits on a 3-acre site, Marcus & Millichap said in a statement. It has an indoor pool, meeting room and business center.
Mahaveer is based in Albany, New York.
“After previous marketing efforts by the seller did not result in a sale, we were able to leverage the Marcus & Millichap platform to connect with qualified buyers and renew interest in the property, ultimately bringing the deal to a successful close,” said Brock Banken, Marcus & Millichap investment specialist. “The new ownership plans to renovate guest rooms, common areas and the exterior, and take a hands-on approach to operations to improve performance. With Detroit Lakes’ status as a year-round destination and its strong seasonal demand, the market is well-positioned for continued growth.”
Northstar Hotels Management acquired the 78-key Residence Inn and 81-key Courtyard near Jacksonville, Florida.
