Milmark Arranges Sale of Hospitality Inn, Milwaukee
MAY 22, 2008. Milmark Hotel/Motel Investments, LLC announced today that the real estate firm's brokers, Ronald McCord and Jennifer Church, have closed on the sale of the Hospitality Inn & Suites located at 4400 S. 27th Street in Milwaukee.
The purchaser, SIDHIVINAYAK LLC, took over operations of the properties as of May 8th, 2008. The seller of the 192 room Hospitality Inn and Suites was Graebner Enterprises, Inc. The selling price was $6,950,000.
The new owners are experienced hotel operators who own multiple properties and have also built hotel properties. Renovations and improvements to the property shall begin in the near future. While one building of the property will remain the Hospitality Inn & Suites, the other building will become a Rodeway Inn & Suites.
Milmark Hotel/Motel Investments, LLC is a full-service real estate firm specializing in the sale and evaluation of hotel/motel properties. The firm, established in 1954, has sold hundreds of lodging properties nationwide. Milmark is known for its extensive experience with both independent properties and franchised hotels, in addition to its distinctive track record of integrity. As a team, Milmark's brokers, Ronald McCord, CHB, CHA, and Jennifer Church, CHB, are the only Certified Hotel Brokers headquartered in the state of Wisconsin, and have an in-depth knowledge of the hotel real estate industry locally, regionally and nationally. For more information, please visit the Milmark website at www.milmark.com.
Milmark Hotel/Motel Investments is a member office of Hotel Brokers International, a national professional organization of hotel real estate brokers and consulting specialists which was founded in 1959. The organization consists of 30 offices nationwide with over 80 salespeople and handles the largest percentage of all annual lodging property transactions in the United States. In 2007, HBI's U.S. offices sold 147 properties with a value of nearly $ 650 million.
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