Carlson Hotels and construction company Mortenson have completed financing for a 500-room Radisson Blu hotel at the Mall of America in Bloomington, Minnesota, US.

The financing was completed through various sources including Recovery Zone Facility bonds, mortgage secured notes, general obligation bonds from the City of Bloomington, a Mall of America skywalk contribution and developer equity.

The new $137.5m hotel will be developed by Mortenson and managed by Carlson Hotels.

The hotel will be the first of its kind in the region to be connected to the mall by means of a skyway.

Construction of the hotel will begin on 26 May 2011 and is expected to be completed in 2013.