{"id":1004244644,"date":"2018-07-24T01:14:53","date_gmt":"2018-07-24T09:14:53","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004244644"},"modified":"2019-03-15T04:52:37","modified_gmt":"2019-03-15T12:52:37","slug":"cambridge-landmark-nabs-481-key-hyatt-in-milwaukee","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cambridge-landmark-nabs-481-key-hyatt-in-milwaukee\/","title":{"rendered":"Cambridge Landmark Nabs 481-Key Hyatt in Milwaukee"},"content":{"rendered":"
\"Hyatt<\/a>

Hyatt Regency Milwaukee<\/p><\/div>\n

Cambridge Landmark has acquired the Hyatt Regency Milwaukee, a 481-key, full-service hotel situated downtown in Milwaukee from Noble Investment Group for a reported $37.3 million. Once the deal closed, a new franchise agreement was drawn up to have Hyatt Corp. continue to operate using the Hyatt Regency brand. <\/p>\n

\u201cThis acquisition furthers Cambridge Landmark\u2019s strategy of ownership-driven hotel investment with assets in medium-to-large U.S. domestic markets,\u201d <\/em>Pedro Miranda, Cambridge Landmark\u2019s managing partner, said in a prepared statement. \u201cWith a great property in a premier location, and forthcoming renovations and refurbishments, we anticipate this property will drive long-term value to the expanding Cambridge Landmark portfolio.\u201d<\/em><\/p>\n

The Hyatt Regency Milwaukee boasts two on-site dining options, a world-class business center, a state-of-the-art fitness center and 33,000 square feet of meetings and event space. According to Miranda, plans are underway for a multi-million-dollar renovation that will include upgrading rooms, enhancing the lobby and improving the hotel\u2019s 33,000-square-foot conference center.<\/p>\n

Built in 1980, Noble originally acquired the hotel for $43.9 million in 2007 from its developer, Gary Grunau and his partners. About nine years ago, the property underwent $19 million in renovations, with changes to its guest rooms, lobby and lounge area.<\/p>\n

Prime location<\/h2>\n

Situated in the bustling downtown district, the asset is adjacent to the Wisconsin Center convention facility, making it a convenient option for meeting guests. The hotel is even connected to the facility by a skywalk. It is also just blocks away from the Shops of Grand Avenue and will be close to the new multi-purpose arena that will be home to the NBA\u2019s Milwaukee Bucks.<\/p>\n

Interest in Milwaukee is picking up thanks to an improved business climate. A recent report by the Metropolitan Milwaukee Association of Commerce revealed that 15 of the 22 available metro area business activity indicators registered improvement in May.<\/p>\n

In addition to this acquisition, the Milwaukee hotel market has seen some activity of late. In February, Marriott opened the Four Points by Sheraton Milwaukee Airport<\/a>, a 178-key location and conference center situated within half a mile of Milwaukee\u2019s General Mitchell International Airport.<\/p>\n

Image courtesy of Hyatt<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Hyatt Corp. will continue to operate the property under its current name. The full-service hotel is located near the Wisconsin Center and the Shops of Grand Avenue.<\/p>\n","protected":false},"author":451,"featured_media":1004244647,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21751,13,21742],"tags":[44705,33185,34546],"class_list":["post-1004244644","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-hotel","category-midwest","category-latest","tag-cambridge-landmark","tag-hyatt","tag-noble-investment-group"],"acf":[],"yoast_head":"\nCambridge Landmark Nabs 481-Key Hyatt in Milwaukee - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/cambridge-landmark-nabs-481-key-hyatt-in-milwaukee\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cambridge Landmark Nabs 481-Key Hyatt in Milwaukee\" \/>\n<meta property=\"og:description\" content=\"Hyatt Corp. will continue to operate the property under its current name. 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