DiamondRock to Acquire Hilton Minneapolis

25th May 2010 (Last Updated May 25th, 2010 18:30)

DiamondRock Hospitality Company has entered into a purchase and sale agreement to acquire the leasehold interest in the 821-room Hilton Minneapolis, Minnesota, US, for $155.5m. The deal is expected to be completed later this year and features an agreement to take on mortgage debt of $3.

DiamondRock Hospitality Company has entered into a purchase and sale agreement to acquire the leasehold interest in the 821-room Hilton Minneapolis, Minnesota, US, for $155.5m.

The deal is expected to be completed later this year and features an agreement to take on mortgage debt of $3.5m and an immediate non-refundable deposit of $15.2m.

The 821-room Hilton Minneapolis features 77,000ft² of meeting space and the largest hotel ballroom in the state of Minnesota.

DiamondRock Hospitality Company is a self-advised real estate investment trust.