A private equity firm has purchased the Radisson Hotel and Water Park of America in Bloomington for an undisclosed sum.
The Star Tribune reported that Wheelock Street Capital, a real estate private equity firm in Greenwich, Conn., said Friday that an affiliate bought the 403-room hotel and amusement park, but it didn't disclose the terms of the sale.
"We are delighted to be acquiring this high-quality asset next to the most visited mall in the country," the company said in its announcement Friday.
Head of the Wirth Cos. in Minneapolis, Jeffrey Wirth, said he's governed by a confidentiality agreement and can't discuss the purchase. Wirth Cos. developed the complex with its huge green tubes curling around the exterior.
Patrick Cambell, a partner of Wheelock, said in an interview that they plan on doing business as the as same as usual and they wouldn't be expecting any lay-offs. Campbell also said that minor improvements will be made to the facility.
Campbell said the property was "priced well," but wouldn't discuss the cost or even confirm who sold it.
Campbell said his company is focused on hospitality properties at the moment "where we think the best and highest opportunities are,'' as reported by the Star Tribune.