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Mno-Bmadsen’s Red Tail Properties partnered with Cressy Commercial Real Estate on a joint venture to redevelop Hotel Elkhart in downtown Elkhart, Ind. “We want to find investments that are affected differently.” They’re somewhat sensitive to different things,” Martinez said. “The factors that affect those industries are different from real estate. He pointed to construction as an example of a “cyclical” industry that’s particularly sensitive to external economic conditions, such as financing and interest rates, that could slow growth in those sectors.

Collectively, the portfolio generates roughly $140 million in revenue annually, which is expected to grow as some of the companies ramp up government contracting activities.Īdding real estate and hospitality to that list helps further protect Mno-Bmadsen against boom-and-bust cycles in each of its other respective industries, “smoothing out the bumps” in revenue and cash flow for the portfolio, Martinez said. Mno-Bmadsen already boasts a broad range of subsidiaries in construction, manufacturing and professional services, including architecture, engineering, land-use planning, environmental mitigation, and mechanical contracting. “This was a good opportunity to move into the commercial real estate space and hospitality and build a lot of different ties.” “We were created to diversify the Pokgaon’s business interests, and the interest here is in further diversifying the portfolio,” Martinez told Tribal Business News. region, part of the Pokagon Band’s ancestral lands. To that end, Mno-Bmadsen has another real estate transaction “teed up” for 2022, and has purchased property to develop in the greater South Bend, Ind. The redevelopment represents Mno-Bmadsen’s first broad push into both the hospitality and real estate sectors, where it plans to continue investing, according to CEO Julio Martinez. Want more news like this? Get the free weekly newsletter. Mno-Bmadsen will hold a ceremony to officially open the hotel, part of Hilton’s Tapestry Collection, at 10:30 a.m.

Mno-Bmadsen’s Red Tail Properties partnered with Mishawaka, Ind.-based Cressy Commercial Real Estate as well as the City of Elkhart, the State of Indiana, Centier Bank, Regional Cities Initiative, and the National Parks Department to complete the $23 million renovation project. Originally constructed in 1923, the hotel now hosts 93 rooms, a restaurant, a ballroom, two bars, and breakout meeting space.

Mechanical engineer four winds casino south bend