View Summary for Completed eCRV ID 1126124
County:Hennepin    Auditor ID:
Submit Date: 07/30/2020 9:10 AM    Accept Date: 08/11/2020 1:19 PM

Buyers Information

Organization name:
VH-MINNEAPOLIS SOUTH, INC.
Address:
860 Remington Rd., Schaumburg, IL 60173 United States
Foreign address:
No
Phone number:
(847) 882-8200
Email:
*** MN Revenue does not display SSN/Tax ID fields due to privacy. ***

Sellers Information

Organization name:
Bloomington Hotel Investors, LLC
Address:
360 North Crescent Drive, Beverly Hills, CA 90210 United States
Foreign address:
No
Phone number:
(310) 712-1850
Email:
*** MN Revenue does not display SSN/Tax ID fields due to privacy. ***

Property Information

County:
Hennepin
Legal description:
See attachment
File attached:
Legal Description - DoubleTree Bloomington.pdf
Deeded acres:
16.76
Will use as primary residence:
No
What is included in the sale:
Land and Buildings
New construction:
No
Property Location(s)
Property location:
7800 Normandale Blvd, Minneapolis, 55439
Property location:
, ,
Preliminary Parcel IDs
Parcels to be split or combined:
No
Primary parcel ID:
Additional parcel ID(s):
Use(s)
Planned use:
Lodging / Hotels/Motels /Full service
Primary use:
Yes
Prior use:
Lodging / Hotels/Motels /Full service
Rental buildings:
1
Rental units:
564

Sales Agreement Information

Deed Type:
Limited Warranty Deed
Date of Deed or Contract:
07/30/2020
Purchase amount:
$26,000,000.00
Downpayment amount:
$500,000.00
Seller-paid amount:
$0.00
Delinquent Special Assessments and Delinquent Taxes Paid by Buyer:
$0.00
Financing type:
New Mortgage
Personal Property
Personal property included:
Yes
Item:
$5,030,000.00 - Full FF& E plus intangibles
Personal Property Total Amount:
$5,030,000.00
Sales Agreement Questions
Buyer leased before sale:
No
Lease option to buy:
No
Seller leased after sale:
No
Minimum rental income guaranteed:
No
Partial interest indicator:
No
Contract payoff or deed resale:
No
Received in trade:
No
Like exchange (IRS section 1031):
No
Purchase over two years old:
No

Supplementary Information

Buyer paid appraisal:
No
Appraisal value:
$0.00
Seller paid appraisal:
No
Appraisal value:
$0.00
Buyer and seller related:
No
Organization tax exempt:
No
Government sale:
No
Foreclosed, condemned or legal proceedings:
No
Gift or inheritance:
No
Name change:
No
Buyer owns adjacent property:
No
Public promotion:
Yes
Significant different price paid:
No
Comment on price difference:

Submitter Information

Submit date:
07/30/2020 9:10:19 AM
Submitter:
Krista DeGroot
Organization:
Pircher, Nichols & Meeks LLP
Email:
kdegroot@pircher.com
Phone number:
(310) 201-8970
Comments:

Terms Accepted by the Submitter:
I declare under penalty of law that I have examined the information entered and submitted on this form, and, based on what I know and believe to be true, the information entered on this form is complete and correct.

County Data Information

County ID:
27
Deed type code:
Limited Warranty Deed
Deed document ID:
Sales agreement net amount:
$20,120,000.00
Sales Price Adjustment(s)
Sales adjustment amount:
$-850,000.00
Sales adjustment code:
HANDADJ
Sales adjustment notes:
At closing there was a $850,000 refund to seller.
Property Attributes
Year structure built:
1969
Parcel new construction percent:
Gross Building Area:
574182
Deeded acres:
16.76
Parcel water influence:
None
Neighborhood code:
Exempt wetland:
No
Exempt native prairie:
No
Property Type(s)
Property Group:
Commercial
Property Type:
Commercial
Primary type:
Yes
Exempt:
No
Contributing parcels:
6
County Assessment
Land value:
$13,666,000.00
Assessment Year:
2020
Building value:
$18,971,400.00
Total market value:
$32,637,400.00
County Recommendation for County Study
Good for study:
County Recommendation for State Study
Good for study:
No
Reject reason-1:
04 - Partial Interest Sale
Reject reason-2:
07a - Physical Change
Reject reason-3:
26 - Not Typical Market
Final Parcels
 (primary parcel listed first)
Parcel ID:
16-116-21-21-0006
Seq:
1
Jurisdiction:
Bloomington
SD:
Bloomington
CER:
CPI:
Parcel ID:
09-116-21-34-0013
Seq:
2
Jurisdiction:
Bloomington
SD:
Bloomington
CER:
CPI:
Parcel ID:
16-116-21-21-0002
Seq:
3
Jurisdiction:
Bloomington
SD:
Bloomington
CER:
CPI:
Parcel ID:
16-116-21-21-0003
Seq:
4
Jurisdiction:
Bloomington
SD:
Bloomington
CER:
CPI:
Parcel ID:
16-116-21-21-0004
Seq:
5
Jurisdiction:
Bloomington
SD:
Bloomington
CER:
CPI:
Parcel ID:
09-116-21-33-0005
Seq:
6
Jurisdiction:
Edina
SD:
Edina
CER:
CPI: