THURSDAY, FEBRUARY 04, 2010

HFF offices team up to sell Marriott hotel in downtown Milwaukee

by Midwest Real Estate News Reports
The Chicago and Miami offices of HFF (Holliday Fenoglio Fowler, L.P.) announced in early February that they have been named to market for sale the 131-suite Residence Inn by Marriott in downtown Milwaukee.

HFF senior managing director Dan Peek, director Danny Kaufman and managing director Jaime Fink will lead the investment sales team on behalf of the owner, Investcorp International, Inc. The hotel is being sold with the potential for a new investor to assume attractive in-place, fixed-rate, financing.

The Residence Inn is located along the west bank of the Milwaukee River in a high-density, in-fill area at the heart of downtown Milwaukee 's central business district. Completed in 2001, the property underwent a significant $1.8 million renovation in 2008.

The renovation impacted all areas of the hotel and was particularly focused on the suites and high-touch areas of the property. The property is downtown Milwaukee's only all-suite hotel and is part of a larger mixed-use re-development of the landmark former Gimbel's (later Marshall Field's) department store.