BROOKFIELD, Wisconsin—Marcus & Millichap announced the sale of the DoubleTree by Hilton Milwaukee-Brookfield in Brookfield, Wisconsin, a suburb of Milwaukee.
“This was a challenging sale that required us to overcome many of the issues in today’s market that are more pronounced in their impact on marketability and value,” said Scott Havericak, senior director of investments in Marcus & Millichap’s Fort Lauderdale office. “The property’s historically low net income created a void in conventional financing options, which needed to be navigated.”
Havericak and Robert Hunter of Marcus & Millichap, in association with Todd Lindblom, the firm’s broker of record in Wisconsin, exclusively marketed the property on behalf of the seller, a private partnership, and procured the buyer, a locally based regional owner-operator.
The 95,544-square-foot property sits on 6.33 acres. Built in 1990, the three-story hotel has 177 rooms, including king, double queen, executive king, and suite accommodations. Amenities include on-site parking, an indoor pool, a fitness center, a business center, meeting spaces, and a restaurant and bar.
The property is directly off Interstate 94, approximately 15 minutes west of Downtown Milwaukee and near American Family Field, the Medical College of Wisconsin, GE HealthCare’s corporate office and the Wisconsin State Fair Park.
