The 46-room AmericInn Detroit Lakes, Minn., has been sold to Mahaveer in a deal brokered by Marcus & Millichap.
Brock Banken, Jake Erickson and Jared Plamann—investment specialists in Marcus & Millichap’s Minneapolis office—had the exclusive listing to market the property on behalf of the seller, Cwikla Hospitality, and secured the buyer. A full-scale renovation is planned for the hotel, which was built in 1995 and has an indoor pool, hot tub, sauna, meeting room and business center. The property is located on U.S. Highway 10 with more than 3 acres of property.
“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,” Banken said in a statement. “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.”