Fairfield Inn & Suites Milwaukee, WI

Listing Agents

Mike Schlictman
T | 803.920.4173
mikes@paramountlodging.com

Adam Montufar
T | 515.446.4181
amontufar@paramountlodging.com

Detailed Information
Property Highlights

UNDER CONTRACT

  • $10.56MM non-performing loan (NPL) collateralized by the fee simple interest in the 103-room Fairfield Inn & Suites Downtown Milwaukee, WI
  • Non-performing loan is being offered in the April 13, 2022, auction event on Real Insight Marketplace
  • The loan was originated October 26, 2016, with a 10-year term, 32-year amortization, and an interest rate of 4.440%, where the principal balance is approximately $10.3MM as of February 1, 2022
  • The loan transferred to special servicing in June 2020 for payment default and a court appointed receiver was put in place to operate the hotel starting October 28, 2020
  • Special Servicer began pursuing foreclosure in August 2020 and as of February 1, 2022, a PNA had not be executed
  • The hotel is ideally located in the heart of downtown Milwaukee, WI at the intersection of W Wisconsin Ave. & N Doctor M.L.K. Jr. Dr.
  • The hotel is walking distance to several key nearby destinations including the Wisconsin Center (Milwaukee Convention Center), UW-Milwaukee Panther Arena, and Fiserv Forum; home to the 2021 NBA champion Milwaukee Bucks
  • Proximate to all broader regional demand including Marquette University, Henry Maier Festival Park (Summerfest), Harley-Davidson Museum, The Avenue MKE, American Family Field, and Advocate Aurora Health HQ; the largest local employer in Milwaukee
  • Ideal time to be investing in the downtown Milwaukee market with upwards of $2B in investment realized during recent years and several major projects anticipated including the $420MM Wisconsin Center expansion, $188MM Couture skyscraper development, and $90MM 770 North adaptive reuse project
Location