MADISON, WI—Ascendant Holdings, a commercial real estate development and investment company based here and Milwaukee, and Central Properties, an owner and developer of student housing and longtime investor in downtown Madison real estate, have tapped Provenance Hotels, a Portland, OR-based hotel owner and operator of lifestyle hotels, to manage the lifestyle hotel they are developing at 118 and 122 State St. here.
“We undertook an exhaustive nationwide search and met with operators of all sizes—independents, brands and everything in between,” said Eric Nordeen, principal of Ascendant Holdings. “What won us over about Provenance Hotels was their track record of success, unique perspective as owners and authentic approach to creating independent hotels that are rooted in the community.”
Under the direction of Ascendant Holdings, Central Properties and Provenance Hotels, the site will become a hotel with a ground-floor food and beverage operation, meeting spaces and a rooftop lounge. Provenance Hotels will manage the property when it opens in 2018.