CRONHEIM MORTGAGE ARRANGES $6,500,000 FOR

HOTEL PROPERTIES IN BELOIT AND GREEN BAY, WISCONSIN

 

Wisconsin – Frank Sullivan and David Turley have secured financing of $6,500,000 for two Fairfield Inn Hotels located in Beloit and Green Bay, Wisconsin.

The Fairfield Inn Beloit contains 94 guestrooms and is an interior corridor, limited-service hotel. The three-story-building opened in 1995 with 54-rooms and added 40 rooms in 2002. The Subject features an indoor swimming pool, high-speed internet access, and an on-site fitness facility. The Subject has undergone complete renovations in order to comply with Marriott’s six-year capital planning requirements.

The Subject is located on Milwaukee Road (Highway 81), with good visibility from either direction of Milwaukee Road. The Subject is situated within close proximity to Interstates 90 and 43, and only three miles from Downtown Beloit. Interstate 90 is the main interstate through central Wisconsin and north central Illinois, and Interstate 43 is the primary access to Beloit from Interstate 90 and offers access to eastern Wisconsin, including the Milwaukee metropolitan area. Overall, the Subject maintains excellent accessibility for guests that utilize the main transportation conduits that are offered in and around the City of Beloit.

The Fairfield Inn Green Bay Southwest, which opened in 1995, is a three-story, interior-corridor, 62-guestroom property. The Subject is located within four miles of Austin Straubel International Airport and only three miles from Lambeau Field, home to the Green Bay Packers. The Subject, which is in excellent condition, features an indoor swimming pool, wireless internet access, and an on-site fitness facility. The subject property has undergone complete renovations to comply with Marriott’s requirements.

The Subject is located on South Oneida Street in Green Bay, Wisconsin. The property is located in close proximity to several major demand generators, and offers excellent access to the area’s commercial districts, including Austin Straubel International Airport (4 miles west), Lambeau Field (3 miles north) and Downtown Green Bay (5 miles north). South Oneida Street is located just off Highway 41 and 172, the main highways through the city of Green Bay. Highway 41 is the major north/south highway and Highway 172 is the major east/west thoroughfare through the city.