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PE Firm Expands Holdings with Hyatt Regency Milwaukee
Hotel-focused private equity firm Cambridge Landmark has closed on its acquisition of the 481-key Hyatt Regency Milwaukee, connected via skywalk to the Milwaukee Convention Center. Deal terms were not disclosed, but published reports put the purchase price at $37.3 million.
“This acquisition furthers Cambridge Landmark’s strategy of ownership-driven hotel investment with assets in medium-to-large U.S. domestic markets,” said Pedro Miranda, managing partner with Miami-based Cambridge. “With a great property in a premier location, and forthcoming renovations and refurbishments, we anticipate this property will drive long-term value to the expanding Cambridge Landmark portfolio.”
A new franchise agreement has been signed with Hyatt Corporation for the property to continue to operate using the Hyatt Regency brand. The hotel will undergo a multi-million- dollar renovation.
The Hyatt Regency is a few blocks from the Shops at Grand Avenue and a new multi-purpose arena that will house the NBA’s Milwaukee Bucks.
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- ◦Sale/Acquisition
