Twain Financial Partners Provides Financing for Construction of Downtown Minneapolis Hotel | State News


ST. LOUIS, December 14, 2021 / PRNewswire / – Twain Financial Partners is pleased to announce the financial close of a historic renovation project in Minneapolis, Minnesota. Twain’s interest includes historic federal and state tax credits, Commercial-PACE financing, and a sale-leaseback, which replaces a traditional construction loan and includes a buy-out option.

The future Hotel Indigo is a renovation of the old Crowne Plaza located in the Northstar campus in downtown Minneapolis. When complete, the property will consist of a 218-room boutique hotel classified as an Indigo hotel and various amenities including a full-service restaurant and bar, cafe, lounges, and a fitness center.

The project is co-developed by Kothe Real Estate Partners, KP Property Development and Great Lakes Management Group. The development team brings deep experience and expertise in structured finance, tax credits and public incentives to carefully selected developments throughout the Midwest, with a particular focus on hotels and historic redevelopments.

“We are especially proud to have funded this renovation of a hotel at a very difficult time,” said Kevin Page, director at KP Property Development. “We are particularly grateful to our various financial partners, including Twain, Lincoln Savings Bank, IHG and the City of Minneapolis for taking the time to understand and believe in our proposition. “

“The deeply layered source funding is a testament to the talent of the developer,” said Erik Lintvedt, Business Development Officer for Twain. “This particular mix of sources presented a very high level of complexity to an already difficult transaction. Hats off to the team at Kothe, who did a tremendous job putting everything together. It was a sincere pleasure to partner with such a group of experts. ‘such a caliber. “

“Twain also took on the challenge of deploying all of our standard products in addition to a sale / lease of the property in one development,” continued Lintvedt. “The structure has allowed us to bring in more project capital than ever before.”

Twain Financial Partners is an investment management firm located in St. Louis, Missouri with over $ 4 billion in assets under management in the public-private partnerships sector. The firm works with a variety of investment types, specializing in tax credit, structured debt and real estate transactions. Twain works with financial institutions and businesses to structure and manage investments that provide attractive economic returns and social benefits.

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SOURCE Twain Financial Partners

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