The Royal Park Hotel, a four-diamond AAA award-winning luxury boutique property owned and operated by the Rewold Family of Rochester for many years, was recently acquired by national real estate investment management firm Fairwood Capital.
Varnum represented the sellers in the matter. The hotel, built in 2004, features 143 guest rooms, over 20,000 sq. ft. of meeting and event space and a craft restaurant. The hotel will be managed by Davidson Hospitality Group under their Pivot brand. Terms of the deal were not disclosed.
The Varnum real estate team was led by Kevin Macaddino and included Ed Gusky and Lauren Potocsky. Along with negotiating the sale contract, the team provided significant due diligence work involving title matters, easement and survey issues. The work also included negotiation with a condo association that had shared access and other benefits associated with the property. Chris Baker provided work relative to liquor license transfer issues.
The hotel was built by Frank Rewold & Sons construction company and has been a cornerstone of the Rochester community and southeast Michigan for the past 18 years.
“Although the decision to sell the property was difficult, the Varnum team provided a lot of confidence as we worked through various issues that arose during the process,” said Frank Rewold. “We’re very happy with the result.”