Alpine Realty Capital Closes Sale in Upper Peninsula of Michigan

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 r