mcr
MCR Acquires the Courtyard Dallas Grand Prairie
MCR | January 11, 2023
NEW YORK--MCR – the country’s 4th-largest hotel owner-operator – has acquired the Courtyard Dallas Grand Prairie, a four-story, select service hotel with 120 rooms in Grand Prairie, Texas. The hotel was purchased with acquisition financing from American Momentum Bank in place, at a rate of SOFR plus 260 basis points and a 65% loan to value. Opened in 2021, the hotel is located 20 minutes south of the Dallas Fort Worth International Airport – the second busiest airport in the U.S. serving the country’s fastest-growing metropolitan area. The Dallas Fort Worth MSA is now home to almost eight million residents, representing an incr...
MCR Acquires the Hyatt Place Miami Airport East
December 21, 2022
NEW YORK--MCR — the country’s 4th-largest hotel owner-operator — has acquired the Hyatt Place Miami Airport East, a six-story, select service hotel with 135 rooms in Miami, Florida. Built in 2015, the hotel was purchased at over a 25% discount to MCR’s estimated replacement cost. This is the company’s ninth hotel in Florida and its first Hyatt hotel. The hotel is one of the closest to Miami International Airport (MIA), located less than a mile from the airport’s main entrance. MIA holds the distinction of being the busiest airport for international passengers and international freight in the U.S. It provides a hub for over 90...
MCR Acquires the Staybridge Suites Chattanooga Downtown
MCR | December 1, 2022
NEW YORK--MCR — the country’s 4th-largest hotel owner-operator — has acquired the Staybridge Suites Chattanooga Downtown, a five-story, extended-stay hotel with 124 suites in Chattanooga, Tennessee. The hotel was purchased at over a 25% discount to MCR’s estimated replacement cost. MCR also has the opportunity to create additional value through (i) converting 13,000 square feet of underutilized ground-floor space into additional guest rooms, retail or meeting space and (ii) monetizing the property’s large, 2.2-acre site offering excess development potential in a prime downtown location. This is the company’s fifth hotel in Tenne...
MCR Acquires the Homewood Suites by Hilton Kansas City Speedway
MCR | November 10, 2022
NEW YORK--MCR — the country’s 4th-largest hotel owner-operator — has acquired the Homewood Suites by Hilton Kansas City Speedway, a four-story, extended-stay hotel with 108 suites in Kansas City, Kansas. Opened in 2018, this is the company’s first hotel in The Sunflower State. Often called the “Paris of the Plains,” Kansas City sits on the border of Kansas and Missouri, where the Kansas and Missouri Rivers meet. Barbecue is a way of life here, with more than 100 restaurants ranging from hole-in-the-wall joints to storied institutions. It’s also a hub for entertainment, professional sports and commerce in the Midwest with a ...
MCR Acquires the DoubleTree by Hilton Hotel in Downtown Tallahassee
MCR | July 5, 2022
NEW YORK--Front and center! MCR — the country’s 4th-largest hotel owner-operator — has acquired the DoubleTree by Hilton Hotel Tallahassee, a 17-story, 242-room hotel in Florida’s state capital. The hotel was purchased as a real estate-owned asset from a special servicer and is the company’s seventh hotel in The Sunshine State. Selected as Florida’s state capital due to its ideal location between Pensacola to the west and Jacksonville to the east, Tallahassee — lovingly known as “Tally” to locals — is a hub for politics, sports and education. In the heart of downtown just two blocks from the State Capitol, the DoubleT...
Island Capital Group and MCR Acquire Sheraton New York Times Square Hotel for $373M
Island Capital | April 20, 2022
Joint venture marks the second high-profile hotel transaction between Island Capital and MCR and demonstrates continued optimism in the recovery of New York City's hospitality industry NEW YORK, April 20, 2022 -- MCR, a leading hotel investor and the third-largest hotel owner-operator in the United States, and Island Capital Group LLC ("Island Capital"), a leading international real estate merchant bank that controls a diverse group of real estate services companies engaged in fund management, principal investment, and financial advisory and consulting services, today announced that they have jointly acquired the Sheraton New York Times ...
MCR Names William White Chief Financial Officer
MCR | April 5, 2022
NEW YORK - April 5, 2022 - MCR the 4th-largest hotel owner-operator in the United States with a $4 billion portfolio of 140 hotels, has appointed William White Chief Financial Officer. Since Mr. White joined MCR in January 2016, he has been an integral member of the management team, serving as a Senior Vice President of Acquisitions and Development based in the company’s New York City office. In that role, Mr. White led the company’s New York City hotel operations, overseeing day-to-day management as well as the acquisition of The Lexington Hotel, Autograph Collection, and the Royalton Hotel New York. Mr. White also oversaw the firm...
MCR Acquires the Homewood Suites by Hilton in Downtown Little Rock
MCR | March 9, 2022
NEW YORK, NY - March 9, 2022 - One night isn’t enough in Little Rock! MCR — the country’s 4th-largest hotel owner-operator — has acquired the Homewood Suites by Hilton Little Rock Downtown, a six-story, extended-stay hotel with 116 suites in Arkansas’s state capitol. This is the company’s second hotel in The Wonder State. Arkansas is also known as the Toothpick State, the Natural State and the Bear State, but whatever your state of mind, you’ll be glad you came. Located on the banks of the Arkansas River, Little Rock is a rising hub for culture, cuisine and commerce in the Southeast, with a population of 200,000 people. ...
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