An affiliate of San Diego-based LM Capital Group LLC purchased the Sheraton Milwaukee Brookfield Hotel from an affiliate of Irving, Texas-based Archon Group LP, a subsidiary of Goldman Sachs, for $16.6 million, according to state records.
The 389-room hotel is located at 375 S. Moorland Road, northwest of I-94 and Moorland Road near Brookfield Square Mall. The hotel has 21 meeting spaces with a total of 19,000 square feet of space. The hotel’s largest meeting space is about 7,000 square feet. Amenities include indoor and outdoor pools.
The property has an assessed value of $19.5 million, according to Waukesha County records.
Schaumburg, Ill.-based Hostmark Hospitality Group was hired to manage the hotel. It is the fifth Wisconsin hotel in the company’s management portfolio.
“The Sheraton Milwaukee Brookfield is a phenomenal addition to our growing portfolio and is aligned with our expertise of operating in the state of Wisconsin,” said Jerome Cataldo, president and CEO of Hostmark Hospitality Group.
