3200 E 81st St Bloomington, MN
NOTICE OF VOLUNTARY MORTGAGE FORECLOSURE SALEDATE: September 15, 2026
YOU ARE NOTIFIED that default has occurred in the conditions of the following described Mortgage:
INFORMATION REGARDING MORTGAGE TO BE FORECLOSED
1. Date of Mortgage: February 28, 2022
2. Mortgagor: Hotel Bloomington 3200 E 81ST, LLC
3. Original Mortgagee: RREF IV - D DIRECT LENDING INVESTMENTS, LLC, a Delaware limited liability company (later assigned to RREF IV - D DLI MS BLOOMINGTON, LLC).
4. Recording Information: Recorded on March 2, 2022, as Document Number 11083119, in the office of the County Recorder of Hennepin County (Abstract Division), State of Minnesota (the "Recorder") and later modified pursuant to a certain Spreader and First Amendment to Amended and Restated Mortgage, Assignment of Leases and Rents, Fixture Filing and Security Agreement dated as of December 30, 2022 and recorded on January 25, 2023, as Document Number 11178022, in the Recorder's Office.
5. Assignments of Mortgage: Mortgage was assigned as follows: (i) first to RREF IV - D DLIN, LLC, a Delaware limited liability company, by assignment instrument dated as of March 4, 2022 and recorded on April 4, 2022, as Document Number 11094316, in the Recorder's Office; (ii) second to RREF IV DEBT AIV II, LP, a Delaware limited partnership, by assignment instrument dated as of May 20, 2022 and recorded on July 21, 2022, as Document Number 11130995, in the Recorder's Office; (iii) third to RIAL 2022-FL8 ISSUER, LTD., an exempted company incorporated with limited liability under the laws of Bermuda, by assignment instrument dated as of May 20, 2022 and recorded on July 21, 2022, as Document Number 11130997, in the Recorder's Office; (iv) fourth to RIAL 2022-FL8 HOLDER, LLC, a Delaware limited liability company, by assignment instrument dated as of July 21, 2025 and recorded on July 23, 2025, as Document Number 11388449 and rerecorded on May 29, 2026 as Document Number 11466283 in the Recorder's Office; (v) fifth to RREF IV - D DLI MS, LLC, a Delaware limited liability company, by assignment instrument dated as of July 21, 2025 and recorded on July 23, 2025, as Document Number 11388452 and rerecorded on May 29, 2026 as Document Number 11466286 in the Recorder's Office; and (vi) sixth to RREF IV - D DLI MS BLOOMINGTON, LLC, a Minnesota limited liability company, by assignment instrument dated as of May 5, 2026 and recorded on June 9, 2026, as Document Number 11469223 in the Recorder's Office.
INFORMATION REGARDING MORTGAGED PREMISES
6. Tax parcel identification number(s) of the mortgaged premises: 06-027-23-23-0650.
7. Legal description of the mortgaged premises:
Parcel 1:
Lot 1, Block 1, Bloomington Central Station 8th Addition.
Hennepin County, Minnesota
Abstract Property
Parcel 2:
Non-exclusive easement for ingress and egress by vehicular and pedestrian traffic for the benefit of Parcel 1, as set forth in the Easement Agreement dated March 31, 2005, recorded May 25, 2005, as Document No. 8588255, as affected by the Amendment to Easement Agreement dated December 8, 2008, recorded December 19, 2008, as Document No. A9301758.
Parcel 3:
Non-exclusive easement for ingress and egress to bring utilities, materials, and other facilities for the benefit of Parcel 1, as set forth in Declaration of Easements, Reservations and Covenants dated July 25, 2006, recorded August 16, 2006, as Document No. 8846607, as affected by the Amendment to Declaration of Easements, Reservations and Covenants dated December 8, 2008, recorded December 19, 2008, as Document No. A9301754, as affected by the Second Amendment to Declaration of Easements, Reservations and Covenants dated February 7, 2017, recorded February 9, 2017, as Document No. A10410836.
Parcel 4:
Non-exclusive easement for parking and vehicular and pedestrian ingress and egress for the benefit of Parcel 1, as set forth in Parking Easement Agreement dated June 16, 2014, recorded June 18, 2014, as Document No. A10088916, as affected by First Amendment to Parking Easement Agreement dated January 12, 2021, recorded January 14, 2021, as Document No. 10900469, and Second Amendment to Parking Easement Agreement dated August 24, 2022, recorded September 20, 2022, as Document No. 11148040.
Parcel 5:
Non-exclusive easements for vehicular and pedestrian ingress and egress and for constructing utility lines, for surface and storm water drainage, for water and sanitary sewer lines, and for recreational use and enjoyment of the Park System, all for the benefit of Parcel 1, as set forth in Declaration of Easements, Rules and Regulations, and Architectural Standards Relating to Hotel Property dated June 16, 2014, recorded June 18, 2014, as Document No. A10088908, as amended by Amendment to Declaration of Easements, Rules and Regulations and Architectural Standards Relating to Hotel Property dated December 18, 2014, recorded December 22, 2014, as Document No. A10147071, and Second Amendment to Declaration of Easements, Rules and Regulations, and Architectural Standards Relating to Hotel Property dated April 21, 2022, recorded April 28, 2022, as Document No. 11102893.
Parcel 6:
Non-exclusive easement for private roads, storm drainage system, private utilities and park system as set forth in Declaration of Easements, Rules and Regulations, and Architectural Standards dated December 11, 2018, recorded December 14, 2018, as Document No. A10620496, as amended by First Amendment to Declaration of Easements, Rules and Regulations, and Architectural Standards dated April 21, 2022, recorded April 28, 2022, as Document No. 11102894.
Parcel 7:
Non-exclusive easement for private roads, storm drainage system, private utilities and park system as set forth in Declaration of Easements, Rules and Regulations, and Architectural Standards dated April 21, 2022, recorded April 28, 2022, as Document No. 11102889.
Parcel 8:
Non-exclusive easement for private roads, storm drainage system, private utilities and park system as set forth in Declaration of Easements, Rules and Regulations, and Architectural Standards dated June 4, 2007, recorded August 8, 2007, as Document No. 9021313, as amended by Amendment to Declaration of Easements, Rules and Regulations, and Architectural Standards dated June 16, 2014, recorded June 18, 2014, as Document No. A10088909, as amended by Amendment to Declaration of Easements, Rules and Regulations, and Architectural Standards dated December 18, 2014, recorded December 22, 2014, as Document No. A10147070, as amended by Third Amendment to Declaration of Easements, Rules and Regulations, and Architectural Standards dated December 11, 2018, recorded December 14, 2018, as Document No. A10620497, as amended by Fourth Amendment to Declaration of Easements, Rules and Regulations, and Architectural Standards dated April 21, 2022, recorded April 28, 2022, as Document No. 11102890.
Parcel 9:
Non-exclusive easement for private roads, storm drainage system, private utilities and park system as set forth in Declaration of Easements, Rules and Regulations, and Architectural Standards dated December 18, 2014, recorded December 22, 2014, as Document No. A10147078, as amended by First Amendment to Declaration of Easements, Rules and Regulations, and Architectural Standards dated December 11, 2018, recorded December 14, 2018, as Document No. A10620498, as amended by Second Amendment to Declaration of Easements, Rules and Regulations, and Architectural Standards dated April 21, 2022, recorded April 28, 2022, as Document No. 11102892.
Parcel 10:
Non-exclusive easement for private roads, storm drainage system, private utilities and park system as set forth in Declaration of Easements, Rules and Regulations, and Architectural Standards dated February 7, 2017, recorded February 9, 2017, as Document No. A10410837, as amended by First Amendment to Declaration of Easements, Rules and Regulations, and Architectural Standards dated December 11, 2018, recorded December 14, 2018, as Document No. A10620499, as amended by Second Amendment to Declaration of Easements, Rules and Regulations, and Architectural Standards dated April 21, 2022, recorded April 28, 2022, as Document No. 11102891.
Hennepin County, Minnesota
Abstract Property
8. The physical street address, city, and zip code of the mortgaged premises: 3200 E. 81st Street, Bloomington, Minnesota 55425.
OTHER FORECLOSURE DATA
9. The person holding the Mortgage:
is not a transaction agent, as defined by Minn. Stat. 58.02, subd. 30.
The name(s) of the residential mortgage servicer and the lender or broker, as defined in Minn. Stat. 58.02, is/are N/A.
10. If stated on the Mortgage, the name of the mortgage originator, as defined in Minn. Stat. 58.02, is N/A.
INFORMATION REGARDING FORECLOSURE
11. The requisites of Minn. Stat. 580.02 have been satisfied.
12. The original principal amount secured by the Mortgage was $22,113,000.00.
13. As of September 8, 2026, the amount due on the Mortgage, including taxes, if any, paid by the holder of the Mortgage (but excluding holder's attorneys' fees and costs), is: $23,773,209.70
14. Pursuant to the power of sale in the Mortgage, the Mortgage will be foreclosed, and the mortgaged premises will be sold by the Sheriff of Hennepin County, Minnesota, at public auction on October 27, 2026, at 10:00 a.m., at the Hennepin County Sheriff's Office, Civil Unit, 350 South 5th Street, Room 190, Minneapolis, MN 55415.
15. The mortgage foreclosure is voluntary pursuant to Minnesota Statutes Section 582.32, and the date of the voluntary foreclosure agreement is September 3, 2026. The time allowed by law for redemption by Mortgagor or Mortgagor's personal representatives or assigns is two (2) months after the date of sale, except that if the mortgaged premises is subject to a federal tax lien under which the United States is entitled to a 120-day redemption period under section 7425(d)(1) of the Internal Revenue Code, as amended, the mortgagor's redemption period is 120 days from the date of sale.
16. Minn. Stat. 580.04(b) provides, "If the real estate is an owner-occupied, single-family dwelling, the notice must also specify the date on or before which the mortgagor must vacate the property if the mortgage is not reinstated under section 580.30 or the property redeemed under section 580.23." If this statute applies, the time to vacate the property is 11:59 p.m. on N/A.
17. Each holder of a junior lien may redeem in the order and manner provided in Minnesota Statutes section 582.32, subdivision 9, beginning after the expiration of the mortgagor's redemption period under Minnesota Statutes Section 582.32, Subdivision 5.Name of Mortgagee or Mortgage Assignee:
RREF IV - D DLI MS BLOOMINGTON, LLC
c/o Rialto Capital Advisors, LLC
200 S. Biscayne Boulevard, Suite 3550
Miami, Florida 33131
Attention: Chris PavlickName and Address of Attorney for Mortgagee or Mortgage Assignee:
Michael Orme (MN# 199333)
ORME LAW
860 Blue Gentian Road, Suite 200
Eagan, MN 55121
Telephone: (651) 688-3877
Email: morme@ormelaw.com
Amy E. Hatch
Polsinelli PC
900 W. 48th Place, Ste. 900
Kansas City, MO 64116
Telephone: (816) 360-4178
Email: ahatch@polsinelli.com(September 16, 23, 30,
October 7, 2026)
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