The Gray Wolf Lodge in Manistique, Mich., has been sold in a deal facilitated by Alpine Realty Capital, which represented the owner in the transaction. Other terms and conditions were not disclosed.
As a member of Hotel Brokers International, Alpine Realty leveraged the group’s marketing platform and its website to reach buyers across the nation. Alpine secured numerous offers for the Northern Michigan hotel, according to the company.
“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,” Ed Walsh, President of Alpine Realty Capital, said in a statement. “In this particular case, we were able to successfully negotiate a fall closing to meet the needs of both buyer and seller.”
The Gray Wolf Lodge is located directly across from Lake Michigan and includes a private beach with access to the boardwalk along the lakeshore. The hotel has 40 guestrooms, all of which have a view of the lake.