Hotel near Corners of Brookfield sold for $7.5 million

Colorado hotel investor buys property for well above its assessed value

The Hampton Inn in the Town of Brookfield.

Last updated on May 15th, 2019 at 04:47 pm

A Colorado real-estate investor has acquired a hotel in the Town of Brookfield, near the Corners of Brookfield shopping center, for nearly $7.5 million, state records show.

The Hampton Inn at 575 N. Barker Road, Town of Brookfield.

The hotel is the Hampton Inn Milwaukee/Brookfield, located at 575 N. Barker Road, or at the northwest corner of North Barker Road and West Bluemound Road. Just south of the hotel lies Interstate 94, and kitty-corner from it is The Corners of Brookfield, a 750,000-square-foot, $200 million mixed-use development that includes 400,000 square feet of retail and restaurant space and 244 luxury apartments.

The property was purchased by WRLP Brookfield LLC, an affiliate of Centennial, Colorado-based Walker Reynolds Lodging Partners. The seller was Midwest Lodging Investors IV LLC, which is registered to Middleton-based hotel developer and operator North Central Group.

The hotel fetched a price tag that was higher than its assessed value of $4.8 million, according to county assessment records.

Neither Walker Reynolds nor NCG immediately responded to requests for comment.

According to its website, Walker Reynolds is a real-estate investment firm that focuses on lodging. “Walker Reynolds is a team of hotel specialists,” the website states. “This means that 100% of our time is dedicated to analyzing and understanding the trends affecting the lodging industry.”

The group lists Nayan Patel, Brett Rush and Francisco Sánchez as managing members.

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Alex Zank, former BizTimes Milwaukee reporter.

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