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MINNEAPOLIS — Bethesda, Md.-based Pebblebrook Hotel Trust has acquired The Grand Hotel Minneapolis for $33 million in an all-cash transaction. Located in downtown Minneapolis, the 14-story hotel features 140 guestrooms, the 58,000-square-foot Life Time Athletic Club and Life Spa, more than 6,500 square feet of meeting space and Zahtar, a three-meal-a-day restaurant. The hotel will be managed by San Francisco-based Kimpton Hotels and Restaurants.