Starwood Snags Downtown Minneapolis Tower for $315M

Connecticut-based Starwood Capital Group is acquiring Wells Fargo Center in Downtown Minneapolis for a reported $315 million. The sellers are Blackstone and a Hines partnership that includes minority investors Wells Fargo and law firm Faegre Baker Daniels.

The landmark 57-story tower at 90 South Seventh St. encompasses 1.2 million square feet and is 80% leased to tenants such as Wells Fargo, Castlelake L.P., KPMG, and Faegre Baker Daniels. Designed by Cesar Pelli, the 1987-era property contains a full-block indoor pedestrian promenade that houses a 100-foot-high ceiling rotunda on one side, and a formal lobby on the other. The new owner will look to renovate the office complex and add amenities.

Eastdil Secured’s Stephen Livaditis and Ken Glomb represented the sellers.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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Starwood Snags Downtown Minneapolis Tower for $315M

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Starwood Snags Downtown Minneapolis Tower for $315M

Inside The Story

About Dennis Kaiser