Home Industries Hospitality & Tourism Sonesta Hotel in Wauwatosa sold for well below its assessed value

Sonesta Hotel in Wauwatosa sold for well below its assessed value

By
Hunter Turpin
-
Image from Google Maps

The Sonesta Milwaukee West Wauwatosa hotel has been sold for $5 million, according to state records. That’s well below the property’s assessed value of $18.8 million, according to Milwaukee County records. The hotel, located at 10499 Innovation Drive, was sold to a Wauwatosa-based entity called Hotel Investment Group LLC, which is affiliated with Himanshu Parikh.

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Hunter Turpin
Hunter covers commercial and residential real estate for BizTimes. He previously wrote for the Waukesha Freeman and Milwaukee Journal Sentinel. A graduate of UW-Milwaukee, with a degree in journalism and urban studies, he was news editor of the UWM Post. He has received awards from the Milwaukee Press Club and Wisconsin Newspaper Association. Hunter likes cooking, gardening and 2000s girly pop.
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The Sonesta Milwaukee West Wauwatosa hotel has been sold for $5 million, according to state records. That's well below the property's assessed value of $18.8 million, according to Milwaukee County records. The hotel, located at 10499 Innovation Drive, was sold to a Wauwatosa-based entity called Hotel Investment Group LLC, which is affiliated with Himanshu Parikh. Parikh owns other hotels in the Milwaukee area, like the Country Inn & Suites and Holiday Inn & Suites at Milwaukee Airport, county records show. Built in 2008, the Sonesta Milwaukee West Wauwatosa hotel has 198 rooms. It was previously a Crowne Plaza hotel. This sale comes after the Sonesta Milwaukee Brookfield hotel, located at 16865 W. Bluemound Road, sold for $2.2 million last week. That property was sold to Blue Hotels LLC, which is affiliated with the Comfort Inn hotel in Waukesha. Blue Hotels’ registered agent is Ashish Patel, according to state records. Both hotels were sold by an affiliate of Newton, Massachusetts-based Service Properties Trust, a real estate investment trust.

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