Hotel - Renovation
ACRES Capital, LLC (“ACRES”) is pleased to announce the funding of a bridge loan to refinance/reflag an existing 388-key hotel located in Appleton, just south of Green Bay, Wisconsin. The property is being converted to an upscale hotel flag with one of the nation’s preeminent hotel brands. The brand is a modern designed, affordable boutique style hotel focusing on the millennial traveler with urban designs and welcoming communal spaces/café atmosphere. It operates in eight markets including New York City, New York; Washington, DC; Omaha, Nebraska; Spokane, Washington; and Salt Lake City, Utah.
“ACRES is excited to team up with a Sponsor who has deep value creation experience in the hospitality sector. Historically, the property has performed well, but is expected to benefit greatly from the reflag as well as its close proximity to the newly constructed Fox Cities Exhibition Center” according to Mark Fogel, President and CEO of ACRES.
ABOUT ACRES CAPITAL
ACRES Capital is a direct lender operating on a nationwide platform. The company seeks opportunities in the $4 million to $50 million range on stabilized or distressed properties including Multifamily, Retail, Office, Hospitality, Industrial and New Construction. For more information please visit www.acrescap.com.