Overview
HREC Investment Advisors (“HREC IA”) is pleased to offer, to qualified investors, the opportunity to acquire the 87-room Avid Roseville – Minneapolis North (“Hotel” or “Property”), situated at 3015 Centre Pointe Dr, Roseville, MN 55113.
Built in 2020, the Avid Hotel Roseville offers a newer, well-maintained asset with limited near-term capital needs, providing a highly attractive, turn-key investment opportunity. As one of the newest hotels in the market, the Property benefits from modern construction, efficient design, and a product that aligns with current guest preferences. Operationally, there is room for meaningful upside, with the Hotel consistently ranking 5th out of 7 in its STR competitive set for ADR. This positioning offers an investor a clear opportunity to implement targeted revenue management strategies and increase the rate while maintaining stable occupancy levels. With the physical asset already in strong condition, new ownership can focus primarily on revenue optimization, expanded sales outreach, and operational efficiencies to drive top-line growth and improve profitability.
Situated in Roseville, one of the Twin Cities’ most strategically located suburbs, the Hotel benefits from its position near the intersection of Interstate 35W and Highway 36, providing excellent connectivity to the entire Minneapolis–St. Paul metropolitan area. Roseville borders both Minneapolis and St. Paul, placing the Property within roughly 10 miles of each downtown and allowing guests convenient access to major regional demand generators, including the University of Minnesota, Allianz Field, Target Field, the State Capitol, and numerous corporate offices. The city of Roseville also serves as a key retail and commercial hub, anchored by one of the region’s premier shopping destinations. The 1.2-million-square-foot Rosedale Center is located just over two miles from the Hotel and attracts over 14 million people annually. In addition to its strong retail presence, Roseville supports a diverse employment base that includes industries like manufacturing, healthcare, technology, higher education, and government. Complementing its business activity, the city features more than 30 parks and recreational amenities, including the John Rose Minnesota Oval, North America’s largest outdoor refrigerated skating facility.
Investment Highlights
New Vintage
Built in 2020, the Avid Hotel Roseville is one of the newest hotels in the Roseville market, offering investors a modern, well-maintained asset with minimal near-term capital expenditure requirements. Much of the existing supply in the Roseville area is older vintage, with roughly two-thirds built before 2000. This allows the Hotel to have a competitive advantage over older properties in the market, as its modern construction and updated design position the asset more favorably against the area’s aging supply.
Upside from New Operational Strategy
The investment offers a substantial upside for a new owner to implement a leaner operational strategy. With consistent top-line revenues and low bottom-line profit, a new investor can increase NOI flowthroughs by utilizing cost cutting initiatives.
Excellent Location Near Diverse Demand Generators
The Hotel is well‑located near major corporate, educational, and recreational demand generators. Within five miles are global companies such as Cohesity (formerly Veritas Technologies), CPC Biopharma, Boston Scientific, Honeywell Aerospace, and Land O’Lakes, as well as higher education institutions including the University of Northwestern – St. Paul, Bethel University, and the University of Minnesota, along with many other colleges in the area. The property is also a short drive from the National Sports Center, the world’s largest youth sports complex, making it convenient for both business and leisure travelers.
Attractive Basis – Well Below Replacement Cost
The national average cost of building a hotel has increased significantly in the past few years. This asset provides an investor with the opportunity to acquire a high-quality Property, unencumbered of debt, at pricing well below current construction costs.
Fee Simple Interest
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