Shulman Rogers’ Clients Announce Joint Venture Recapitalization of Milwaukee Hotel
July 16, 2020
Shulman Rogers’ client Woodmont Lodging, and partners, Blue Vista Capital Management and Milestone Companies, recently announced their joint venture recapitalization of the 388-room Sheraton Milwaukee Brookfield Hotel in Wisconsin. Woodmont Lodging and Milestone Hospitality will acquire a minority interest in the hotel and provide asset management services. Blue Vista Capital Management will be the lead investor in the transaction.
“The Sheraton Milwaukee Brookfield Hotel benefits from its prime location in the reinvigorated Brookfield submarket,” said Elliott Estes, principal of Woodmont Lodging. “The region continues to see strong investment, including the $24 million, 44,000 square foot Brookfield Conference Center, the redevelopment of the 100-plus store, 1.0 million-square-foot Brookfield Square Mall and the $32 million Milwaukee Tool headquarters expansion, all recently completed. The hotel, especially after its comprehensive renovation this winter, will be well-positioned to be a destination for the group, business and leisure travelers to the area.”
Shulman Rogers represented Woodmont Lodging and Milestone Companies in the negotiation of the joint venture agreement, a relicensing agreement with Marriott and the various documents relevant to a shift in ownership. Chair of Shulman Rogers’ Real Estate Department, Alexis Peters, said, “We were pleased to support Woodmont Lodging and Milestone in this transaction-and to be a part of their continued growth and success.”
To read the full press release, click HERE.