Bank acquires Clarke Hotel in sheriff’s sale

Sheboygan-based Community Bank & Trust recently acquired the Clarke Hotel, located at 314 W. Main St. in downtown Waukesha in a sheriff’s sale. The transaction was recorded on Thursday, May 9, according to state records.

The seller is listed as Bethesda Development II LLC. The value of the property transaction is listed at $2 million. The property has an assessed value of $4.75 million, according to county records.

The hotel opened in 2008 and was developed by Andrew Ruggeri and Drew Vallozzi. But in 2009 Ruggeri resigned his managerial duties.

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