Microtel Inn & Suites – Green Bay, Wisconsin
Microtel Inn & Suites contains 68 rooms, including 23 suites, and an indoor swimming pool with water features. Based on the low Net Operating Income, acquiring debt financing was a major challenge for many purchasers.
Through an aggressive sales and marketing process, prospective buyers seeking limited-service properties in the Midwest were targeted and offers were received from 12 purchaser groups.
The buyer who eventually closed on the purchase of the property was a regional owner-operator who was able to creatively finance the transaction through assumption of the seller’s exiting debt.
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