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Article: Marcus Hotels and Resorts, Waterton to Form Joint Venture to Acquire Sheraton Madison, Wis.
- Article from:
- Business Wire
- Article date:
- February 20, 2007
CopyrightCOPYRIGHT 2007 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Acquisition Part of Expanded Growth Strategy to Co-invest with Selected Owners
MILWAUKEE & MADISON, Wis. -- Marcus Hotels and Resorts, a division of The Marcus Corporation (NYSE: MCS), today announced that it will form a joint venture with Waterton Tactical Real Estate Fund I, a discretionary value add real estate fund sponsored by Chicago-based Waterton Commercial LLC. The joint venture will acquire the Sheraton Madison Hotel in Wisconsin from Woodmen of the World Life Insurance Society for an undisclosed amount. Marcus Hotels and Resorts will own a 15 percent minority interest in the joint venture and will manage the hotel and oversee a major renovation of the ...
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