GREAT LAKES MANAGEMENT GROUP, LLC ANNOUNCES THE ACQUISITION OF THE TOWNEPLACE SUITES IN OAK CREEK, WISCONSIN
Great Lakes Management Group, LLC announces the acquisition of TownePlace Suites Milwaukee Oak Creek by Marriott in Oak Creek Wisconsin. This is the 13th hotel in the growing Great Lakes portfolio of owned/managed properties. In the coming year, Great Lakes will focus on the continued success from the recent opening of this hotel in April of 2018.
"We are excited to have acquired this very well located, extended stay, new hotel at an attractive basis. While the hotel is already performing quite well, we believe there is significant additional upside operationally at this hotel and from an overall market positioning perspective," says Neil Densmore, founder, president of Great Lakes Management Group, LLC.
The hotel, which sits one mile off I-94 within the Drexel Town Square development in Oak Creek, currently features 112 studio, one-bedroom and two-bedroom suites with fully equipped kitchens, as well as separate living/working and sleeping areas. The hotel amenities include an outdoor fire-pit patio, a distinctive Weber Grill dining patio, heated indoor pool, 24-hour fitness center, guest laundry and 136 surface parking spaces. The hotel also offers complimentary high speed wi-fi, complimentary morning breakfast buffet, the In A Pinch market place and local TowneMap of attractions for guests to enjoy as well as the opportunity to earn Marriott Rewards Points during each stay.
The TownePlace Suites Oak Creek offers a centralized location in the Milwaukee region, proximate to the area’s amenities, including: shopping and dining in Drexel Square, Oak Creek Public Library, Oak Creek Civic Center, General Mitchel International Airport, the new IKEA, Water Street Brewery and the beautiful beaches of Lake Michigan at Grant Park Beach. Just a short distance from hotel is Uline company, south in Pleasant Prairie and the soon to be developed, FoxConn and Amazon facilities. Reservations can be made online at https://www.marriott.com/hotels/travel/mkeok or by calling the hotel directly at 1-414-764-7980
The terms of the sale are not disclosed at this time.
About Great Lakes Management Group
Great Lakes Management Group, LLC is a national real estate investment, development and management firm. The firm's primary areas of focus are hotels, resorts and other forms of real estate, including residential and mixed-use developments. Great Lakes Management Group’s geographic focus is in Mid-West states including: Wisconsin, Minnesota, Missouri, Illinois, Iowa and in mid-2019 extending south to Florida. Its current portfolio includes a growing collection of 13 full and limited service hotels and brands including Hotel Indigo, Holiday Inn Express, Hampton Inn & Suites, Staybridge Suites, TownePlace Suites and Comfort Suites. For information, visit www.glmghotels.com
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