Hilton Homewood Suites
An SVN | Northco investment affiliate acquired the 112,000 SF office building at the West End in St. Louis Park, MN which included an oversized parking lot. The Northco team was able to carve oﬀ approximately 2 acres of the parking lot for development.
The Northco team then worked with a large hotel developer to obtain very favorable entitlements that allowed for the development of a Homewood Suites by Hilton. The entitlement process required a detailed parking study and analysis that demonstrated the different times and days of parking usage between a suburban office building and an extended stay hotel. Ultimately, the project was approved and developed, and is currently one of the most successful hotel projects in the area.
Northco retained ownership of the hotel land, and signed a long term ground lease with the hotel developer.
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