The new Element hotel in the North Loop was recently sold weeks before its doors opened for the first time.
Developer United Properties, owned by the Pohlad family, sold the 156-room hotel in late December for a little more than $34 million, according to an electronic certificate of real estate value made available Jan. 2.
The buyer was Duluth-based Lion Hotel Group.
The hotel sits above the new Fillmore Minneapolis music venue, set to have its first show in mid February. Guests can begin staying in the hotel Jan. 24.
The hotel is at 501 N. 6th Av., a stone's throw from Target Field, where the Pohlad-owned Minnesota Twins play.
Lion Hotel Group had been working with United Properties to develop the hotel, the first Element hotel from Marriott International, Inc., to open in Minnesota. The hotel caters to guests looking for extended stays with in-room kitchens and oversized closets.
The hotel plans to offer a range of amenities including a rooftop patio with grills and a fire pit, a lobby with 16-foot high windows and more.
"The Element aligns well with the North Loop of Minneapolis" said Bill Godbe, the general manager of the Element Minneapolis, in a recent statement. "The area is home to some of the newest, most exciting entertainment options and centrally located in the downtown core. Our commitment to a relaxed and balanced lifestyle is a natural extension of the neighborhood. We are thrilled to bring this new hospitality option to healthy, active travelers in the Twin Cities."
![Gas was $2.39 at the BP gas station ay 46th Street at Lyndale in South Minneapolis. ] GLEN STUBBE * gstubbe@startribune.com Friday September 4, 2015 Pre-Labor Day gas prices in the U.S. are the lowest in 11 years, and under $2 per gallon in many states, though Minnesota's average is nearly 40 cents higher. Just one station, in Brainerd, was selling at $1.99. Checking on whether that is a promotion. Costco and Sams Clubs, usually the low price leaders, were 15 cents more. With some motorists' tho](https://arc.stimg.co/startribunemedia/4U372WPXFGGQGQHPL2CTC4SFUY.jpg?&w=252&ar=3:2&fit=crop)
