Witness Investment, a Chicago-based hospitality investment group, has acquired the high-end Renaissance Milwaukee West Hotel for $14.25 million, according to a Sept. 11 report in the Milwaukee Journal Sentinel.
The 196-room hotel, which opened during the summer of 2020 amid the COVID-19 pandemic, was sold for nearly half of its assessed value of just under $27 million.
Gurtej Medi, managing partner for Witness Investment, said in a statement that buying the upscale hotel “is a rare opportunity to acquire a modern, well-located Marriott asset with significant growth ahead of it.”
The 12-story hotel was developed in an obsolete office building at 2300 N. Mayfair Road.
