Starwood Capital Purchases Wells Fargo Center in Minneapolis for $315M

MINNEAPOLIS — Starwood Capital Group has purchased the 57-story Wells Fargo Center in downtown Minneapolis for $315 million. Blackstone and Hines sold the office tower, which was designed by Cesar Pelli and completed in 1987. The property is home to an indoor pedestrian promenade with a 100-foot-high ceiling rotunda and a lobby. Tenants include a Wells Fargo branch bank, accounting firm KPMG and investment firm Castlelake LP. Starwood plans to renovate the building and add amenities.