Just Sold: Arrowwood resort sale biggest in years

Editor’s note: “Just Sold” is a Finance & Commerce feature based on the newest certificates of real estate value filed with the Minnesota Department of Revenue for commercial sales throughout Minnesota and reports of sales across the country involving local parties. Research includes company and broker documents, online real estate listings, F&C archives, Catylist and other research.

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Arrowwood Resort & Conference Center in Alexandria has sold for slightly more than $14 million in what appears to be the most expensive single-property resort sale since the Minnesota Department of Revenue began posting sale reports online a decade ago.

The buyer and seller have not released details of the April 18 deal.

The state certificate of real estate value lists the buyer as SAI Holdings LLC, an entity registered to a residence in the Cos Cob neighborhood of Greenwich, Connecticut.

The seller is Regency Midwest Ventures LP, an entity of Regency Hotel Management in Sioux Falls, South Dakota.



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Lee Kerfoot of the Minnesota office of Hospitality Real Estate Consultants is the broker of record for the deal. He confirmed the sale but declined to comment

The sprawling, 138-acre resort is located at 2100 Arrowwood Lane. It sits on the north shore of Darling Lake, about two hours northwest of Minneapolis. It includes 195 oversized hotel rooms, 16 townhouses and 13 cottages. It includes a conference and event center, the 18-hole Atikwa Championship Golf Course and Big Splash Waterpark .

The state converted from paper to online certificates of real estate value in 2014, and since then it has posted 651 reports of resort-related real estate transactions valued at $3,000 or more. Sales of resort operations are not included in the reports.

Place: 2100 Arrowwood Lane, Alexandria

Price: $14,159,250; $250,000 down payment; new mortgage

Buyer: SAI Holdings LLC, Cos Cob, Connecticut

Seller: Regency Midwest Ventures LP, Sioux Falls, South Dakota

Date: 4-18-24

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