Trimac Rentals Purchases Cutlass Motor Lodge for Conversion into Retro-Modern Apartments
For Antigo Times
Antigo, WI, March 2, 2016 — Minneapolis based property owner and developer, Trimac Rentals LLC., acquired the Cutlass Motor Lodge (915 S Superior St, Antigo, WI) on February 19, 2016. Trimac Rentals plans to invest over $1,000,000 into the re-development of the site to provide quality retro-modern living for Antigo residents on the south side of town.
The Trimac Rentals team have stated their goal is all labor and materials will be sourced locally from Antigo and the surrounding area.
The current development plan is to remove the front portion of the building to provide an inviting exterior and renovate the motel into 24 apartments. The City Plan Commission approved re-zoning the property from B-3 to R-4 during the monthly meeting on February 16; the plans will go before the City Council for final approval on March 9.
“The Cutlass will be an exceptional addition not only to the neighborhood, but to the entire Antigo community,” said Trimac Rentals Partner Korey Stern. “We see this project as a catalyst for spurring additional developments and jobs in the area, and is one of the many reasons we’re continuing to attract even more vibrant professionals to live, work, and enjoy the city.”
The Cutlass Motor Lodge has a long history in the City of Antigo, including a stay by NASCAR driver Jimmy Johnson in 1995. Trimac is inspired to continue the legacy of the Cutlass Motor Lodge while it develops into its future.
About Trimac Rentals
The management and development team of Korey Stern, David Dziamarski, Travis Budisalovich, and Jon Marshalla currently owns over 100 units in the Antigo, Wausau, Shawano, and Rhinelander area. They are committed to investing in affordable, quality housing for central Wisconsin residents.
Travis has over 15 years of executive management experience, and currently serves as a consultant and adviser to multiple Fortune 100 companies. He has overseen the growth of TriMac to $8,000,000+ in assets comprised of over 115 units. He has structured deals for over 160 storage units and multiple residential and commercial properties across Minnesota and Wisconsin. Travis has also personally owned and rented multiple real estate properties for over 10 years. He brings the management and investment experience necessary to drive growth and returns for TriMac investors.
Korey has over a decade of residential, commercial and industrial property investment experience. Over the past decade, he has owned and managed over 175 residential and commercial units throughout 3 states (MI, WI & MN). He currently owns and manages over 500 self-storage units, with plans to grow that to 1,500 within the next 12 months. Korey’s experience and network bring the ability to find off market properties not available to the general public yielding much greater returns. In the past decade, Korey has grown $20,000 in assets to over $13,000,000. In addition to Korey’s real estate success, he has served in the United States Air Force and owned several successful retail operations.
Jon has over a decade of financial analysis experience and over five years of property management and investing experience. He has owned/managed over 100 residential and commercial units. Jon’s experience in financial analysis enables accurate and efficient analysis of property profitability as well as the ability to quickly determine the most lucrative options and property improvements for investors. Jon’s network also proves incredible valuable when raising capital and finding off market properties not available to the general public. Over the past 5 years Jon has grown his portfolio from his first real estate purchase to over $7,000,000 in gross assets through various partnerships.