The Doubletree Hotel and Conference Center by Hilton in Bay City, Mich., was acquired in a deal facilitated by Alpine Realty Capital. Other terms and conditions were not disclosed.
The Ann Arbor, Mich.-based brokerage firm advised the buyer throughout the transaction, including negotiations, due diligence, lender coordination and the closing process for the hotel, which is located along the Saginaw River in downtown Bay City. The full-service hotel features 150 guestrooms, 16,000-square-feet of meeting/banquet space, indoor pool, whirlpool, business center, restaurant and lounge.
According to Alpine Realty—which is a member of Hotel Brokers International—its role included negotiating pricing and terms, coordinating appraisal and environmental reviews, working with lenders on approvals and coordinating with legal counsel and the seller's representatives through closing.
“The DoubleTree Hotel and Conference Center has been a fixture in the mid-Michigan lodging industry for more than 20 years and remains one of the top meeting and group hotels in the state,” Ed Walsh, president of Alpine Realty Capital, said in a statement. “We worked tirelessly with our buyer to execute on a very difficult transaction and are pleased that he was able to add this hotel to his growing portfolio.”