Press Release
Axilla Capital Closes $5.6 Million Acquisition Loan for the Holiday Inn Express Milwaukee West Medical Center
TROY, MI (July 26, 2018) – Axilla Capital, LLC announced today that it closed a $5.6 million loan for the acquisition of the Holiday Inn Express in Wauwatosa, Wisconsin. Associate Director Tom Fleming originated the transaction and arranged the loan with a regional bank on behalf of the borrower.
“This is a great property with tremendous cash flow,” says Fleming. “There was substantial interest from lenders, including both conventional banks and conduits. Ultimately, our client preferred a conventional loan.” Axilla quickly identified a bank that could execute. The five-year, fixed
-rate loan offers flexibility and a borrower-friendly FF&E reserve ramp up.
The 121-room property originally opened in 1984 and recently completed a multi-million-dollar renovation in 2017. The three story, interior corridor hotel features a fitness center, business center, complimentary breakfast, free Wi-Fi, and shuttle service. Located approximately nine miles west of downtown Milwaukee, the hotel allows convenient access to downtown and the surrounding metro Milwaukee area. Additionally, the Milwaukee Regional Medical Center is less than three miles from the property. The medical center contains six health care institutions, including the Children’s Hospital of Wisconsin, which is Wauwatosa’s largest employer with over 15,000 employees.
About Axilla Capital, LLC
Axilla Capital, LLC is a leading commercial real estate finance and advisory company that specializes in arranging debt, mezzanine and equity capital for hotels, multifamily, office, retail, industrial and self-storage properties. The company’s principals have a combined track record of closing more than $2 billion of transactions. Website: www.axillacapital.com