Greendale-based Lexington Hotel Development Group LLC, doing business as Wauwatosa Hotel Group LLC, recently purchased the 127-room Days Inn hotel, and related business operations, located at 11811 W. Bluemound Road, Wauwatosa, from George and Efthimia Glavas for $2.6 million.
Pewaukee-based Foundations Bank provided a $2.1 million loan, backed by the U.S. Small Business Administration (SBA) for the deal.
The deal includes the Bluemound Gardens restaurant and bar, a catering business and an in-house bakery. The hotel also has two large banquet rooms and an indoor swimming pool.
Jennifer Green of Lannon-based Commercial Realty Advisors represented Lexington Hotel Development Group and Andrew Stefanich of CB Richard Ellis represented the Glavas’ in brokering the sale.
The Glavas’ also own the Days Inn hotel at 11811 W. Bluemound Road in West Allis.