The new all-suite property is the first Marriott in St. Paul.
St. Paul, MN — CliftonLarsonAllen Wealth Advisors, LLC, is pleased to announce that the firm has secured $15.5 million of equity capital funding for long-term recapitalization of the 100-suite Residence Inn located in downtown St. Paul. The property, which opened in December 2018, was developed by Kaeding Management Group, LLC and is the first Marriott to be located in the capital city of Minnesota.
“We are pleased to extend our hotel portfolio into historic downtown St. Paul,” said Carl Kaeding, owner of Kaeding Management Group, who has built hotel chain properties throughout the Midwest. “The CLA team worked diligently to secure the funding we needed to make this project a success.”
The new property, an all-suite hotel, is situated near the Children’s St. Paul Hospital, and offers guests convenient access to all the amenities of downtown St. Paul.
“It’s been a pleasure to watch this project receive local support, break ground, and come to fruition,” said Tony Hallada, managing principal with CLA Wealth Advisors, who oversaw the capital raise.
CLA helps clients capitalize on each phase of the real estate investment lifecycle from raising capital to successfully exiting. Fund managers, developers, operators, and investors can all benefit from extensive accounting, tax, compliance, and wealth advisory capabilities offered seamlessly in support of their entrepreneurial vision.
Learn more about the Residence Inn St. Paul Downtown, along with CLA’s full suite of wealth advisory services.
About CLA
CLA exists to create opportunities for our clients, our people, and our communities through industry-focused wealth advisory, digital, audit, tax, consulting, and outsourcing services. With nearly 9,000 people, more than 130 U.S. locations, and a global vision, we promise to know you and help you. CLA (CliftonLarsonAllen LLP) is an independent network member of CLA Global. See CLAglobal.com/disclaimer. Investment advisory services are offered through CliftonLarsonAllen Wealth Advisors, LLC, an SEC-registered investment advisor.