Minneapolis-based CSM Corp. appear Thursday the auction of six auberge properties, including two in Roseville, to Blackstone Group – the world’s better absolute estate private equity firm.
The auction comes a ages afterwards Blackstone’s headline-grabbing accretion of about all of GE Capital Absolute Estate’s assets, a transaction admired at added than $23 billion, bringing the New York-based company’s global assets to about $100 billion.
CSM’s auction portfolio totals 740 bedfellow apartment in Minnesota, Oregon and Arizona. Terms of the accord were not disclosed.
Blackstone will retain CSM as the acreage administrator of the properties.
“We will abide complex in the circadian operations of these properties, ensuring affection administration casework and aberrant chump service,” said Bob Micklash, admiral of CSM’s abode division.
The backdrop awash to Blackstone are:
• Courtyard by Marriott – Minneapolis/St. Paul-Roseville• Residence Inn by Marriott – Minneapolis/St. Paul Roseville• Courtyard by Marriott – Portland Southeast • Hilton Garden Inn – Portland/Beaverton• Residence Inn by Marriott – Phoenix-Mesa• Residence Inn by Marriott – Portland North/Vancouver.
CSM still owns 14 auberge backdrop beyond the Twin Cities Metro, including The Renaissance Minneapolis Auberge – The Depot.
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