Holiday Inn hotel near airport sold for $7.7 million

CREFII Waramaug Milwaukee Airport LLC, a Boca Raton, Fla.-based investment group, recently purchased the Holiday Inn hotel at 545 W. Layton Ave. near Mitchell International Airport in Milwaukee for $7.7 million, according to state records.

The hotel was sold by Warwich, R.I.-based Magna Hospitality Group.

The 130-room hotel was built in 2000. The three-story, 189,573-square-foot building sits on a 4.35-acre site. The property has an assessed value of about $8 million, according to city records.

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