NCG sells four hotels to develop hotels in Deer District and downtown Madison

Middleton-based North Central Group (NCG) has sold four hotels to develop a new hotel adjacent to the Fiserv Forum in Milwaukee and one on East Washington Avenue, according to a Wisconsin State Journal report. Hotels sold include a 136-room Courtyard by Marriott near the Costco, the Hilton Garden Inn, and the Residence Inn by Marriott in Middleton; and the Hilton Garden Inn in Rockford, Illinois. The hotels have been sold to Ault Alliance, a subsidiary of BitNile Holdings, for $69 million. The funds from the sales will allow NCG to develop the eight-story Moxy Madison Downtown hotel at 825. E. Washington Ave., and the 207-room boutique-style Trade Milwaukee hotel in the Deer District in Milwaukee. Both hotels have completion dates in 2023.