Hospitality v Wisconsin

CBRE sells two-hotel portfolio in Milwaukee market

CBRE sells two-hotel portfolio in Milwaukee market,ph01

CBRE has arranged the sale of a 228-room, two-property hotel portfolio in Oconomowoc, Wisconsin, in the Milwaukee market.

The two hotels in the offering consist of a 128-room Staybridge Suites at 1141 Blue Ribbon Drive, purchased by KGNMP Hotels LLC, a Wisconsin limited liability company, and a 100-room Hilton Garden Inn at 1443 Pabst Farms Circle, purchased by KM Hotel LLC.

CBRE’s Nate Sahn, John Karver, Pravin Boteju and James Foxx represented the seller in the sale. This sale was CBRE’s 18th hotel transaction in Wisconsin in the last four years.

Both hotels offer fitness centers, indoor pools, business centers and meeting space. Located approximately 30 miles west of downtown Milwaukee, the hotels offer excellent access to the greater Milwaukee market, Madison and the rest of central Wisconsin. The properties are both part of the burgeoning 1,500-acre Pabst Farms Development, a community that has experienced 23 percent population growth over the last 15 years.