Sheraton Novi

Location: Novi, MI
Type: Hospitality
Price: $23,100,000

SMC has provided a $23,100,000 ten-year fixed rate mortgage for the acquisition of Sheraton Novi, a 238 room full-service hotel located in Novi, MI. Built in 1985 and renovated most recently in 2013 – 2014, the improvements consist of a seven-story, interior corridor building with over 20,000 square feet of meeting space, a 24-hour business center, restaurant, bar, café, fitness room, indoor pool and whirlpool spa. The Property is located just off of I-275, approximately one mile south of the Interstate 96 interchange, along one of the busiest stretches of roadway in Michigan. It is located equidistant between Detroit, Ann Arbor, and Pontiac/Auburn Hills.