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Gray Wolf Lodge in Manistique, Michigan – Image Credit Hotel Brokers International
Alpine Realty Capital continues to be the most active hotel broker in Northern Michigan
Alpine Realty Capital, a leading advisor in hospitality real estate investment and a member of Hotel Brokers International, today announced that it has successfully represented the owner in the sale of the Gray Wolf Lodge in Manistique, Michigan.
Alpine utilized the power of the Hotel Brokers International marketing platform and its website www.hbihotels.com to reach buyers from across the country. Through this network, Alpine was able to secure numerous offers despite the relative remoteness of the location and the small room count of this hotel.
“The Upper Peninsula has become a very attractive destination for hotel investment as supply increases are muted and the fall and winter demand continues to increase as a complement to the strong summer business,” said Ed Walsh, President of Alpine Realty Capital. “In this particular case, we were able to successfully negotiate a fall closing to meet the needs of both buyer and seller,” continued Walsh.
Alpine works daily with groups looking for opportunities to provide capital investment or other means to provide equity returns. In an environment in which the supply of lodging properties for sale is scarce and construction costs remain high, Alpine is seeing ever-increasing interest in acquisitions from various groups, including owner-operators seeking to participate in the industry’s strong returns while buying for less than replacement cost.
About Alpine Realty Capital
Based in Ann Arbor, Michigan, Alpine Realty Capital is a mortgage banking and real estate brokerage firm specializing in hotel asset investment, valuation, financing, marketing, and transaction. Edward P. Walsh, CHB, serves as President and Principal Broker of Alpine Realty Capital. Mr. Walsh is a dedicated lodging industry professional whose career spans more than 35 years in the lodging industry. He has held numerous positions in consulting, valuation, and for the most recent years as a hospitality real estate and mortgage broker, founding Alpine Realty Capital in 2007. His expertise includes providing services regarding all phases of investment, from site selection and acquisition to feasibility analysis and appraisal, and from mortgage financing to construction cost analysis. In all, Mr. Walsh has provided real estate consulting and/or transaction services for more than $1 billion worth of hospitality real estate assets.
About Hotel Brokers International
Founded in 1959, Hotel Brokers International (HBI) is the hospitality industry’s most established and experienced network of hotel real estate professionals. With more than 11,000 successful hotel transactions, HBI members are recognized leaders in hotel brokerage, investment advisory, and market insight. HBI is the founder and administrator of the Certified Hotel Broker (CHB) Program—the only professional designation specifically for hotel brokers. In addition to brokerage services, HBI offers affiliate membership opportunities for professionals in franchising, lending, appraisals, and investment services. To learn more, visitwww.hbihotels.com.
For more information, contact:
Edward P. Walsh, CHB, President
Alpine Realty Capital
Ann Arbor, Michigan
734.645.2566 (c)
ewalsh@alpinerealtycapital.com
Glenda J. Webb, Executive Director
Hotel Brokers International
Kansas City, Missouri
816.505.4315
gwebb@hbihotels.com