January 15. 2014 10:00AM - Last modified: January 15. 2014 10:09AM

Downtown Hampton Inn & Suites sold for $8.3 million

An affiliate of Warwick, R.I.-based Magna Hospitality Group LLC, a hotel real estate investment firm, recently purchased the 138-room Hampton Inn & Suites hotel in downtown Milwaukee for $8,289,100, according to state records.

The Magna affiliate, MHF DT Milwaukee IV LLC, purchased the hotel from HCP OBG Milwaukee Property Company LLC, which is an affiliate of Chicago-based Oxford Capital Group LLC.

The 10-story, 107,754-square-foot building is located at 174-84 W. Wisconsin Ave. The property has an assessed value of $9,896,000, according to city records.

Oxford Capital bought the hotel in 2005, renovated the building and converted it from a Howard Johnson Inn & Suites into a Hampton Inn & Suites.

In 2012, Magna Hospitality Group purchased the Best Western hotel at 710 N. Old World Third St. in downtown Milwaukee and last year converted the hotel to a 103-room Fairfield Inn & Suites hotel.