- Witness acquired Renaissance in Wisconsin.
- Hotel offers 9,864 square feet event space.
- Hunter Advisors brokered the deal.
The 12-story hotel, built in 2020, is about 10 miles west of downtown Milwaukee in Wauwatosa’s main retail, medical and corporate area. It is near Mayfair Mall and the Milwaukee Regional Medical Center. The hotel offers about 9,864 square feet of meeting and event space and a fitness center, Hunter said in a statement.
Mayfair Mall spans 1.2 million square feet and draws about 4 million visitors each year, making it Wisconsin’s largest mixed-use shopping destination. Nearby projects valued at more than $500 million include a planned Scheels flagship store and more than 400 residential units.
Witness, based in Chicago and led by managing partners Sagar Patel and Gurtej Medi, has developed more than 36 hospitality assets and owns and asset-manages part of its portfolio.
"This was a rare opportunity to acquire a modern, well-located Marriott asset with significant growth ahead of it, and we couldn't be more excited to add it to our portfolio," said Medi.
The transaction was facilitated by Hunter’s senior vice president Spencer Davidson.
Davidson said the transaction reflects continued investor confidence in recently built, branded hotels in strong secondary markets.
“The Renaissance Milwaukee West offers a combination of modern construction, a strong location and long-term growth potential,” he said.
Last year, Witness acquired the 117-key Hilton Garden Inn Springfield in Illinois in a deal facilitated by Hunter.
