LaSalle sells Minneapolis-area hotel

13-Jan-11 – A 564-room hotel near Mall of America in Minnesota has slipped from the empire that includes Marina City’s Hotel Sax.

LaSalle Hotel Properties announced the sale today of Sheraton Bloomington Hotel. The real estate investment trust got $20 million for the hotel and will use the money to pay down unsecured debt.

Starwood Hotels & Resorts Worldwide, Inc., manages the Sheraton Bloomington, located just south of Minneapolis. It was renovated in 2006 at a cost of $13.5 million.

LaSalle now owns 34 upscale hotels.