MCR, the third - largest hotel owner - operator in the U.S., has agreed to purchase the BT Tower - one of London's tallest buildings from BT Group. MCR will own the 620 - foot Tower and podium, encompassing a full London city block, freehold.
MCR has refinanced a 16-hotel portfolio for $333 million, generating $51 million of net proceeds.
MCR today announced it has completed the sale of the 100-room Residence Inn by Marriott Philadelphia Langhorne located in Langhorne, Pennsylvania for $22.1 million, or $221,000 per key.
Most recently, Sam served as the Chief Revenue Officer for Hersha Hospitality Management (HHM).
MCR has acquired the Canopy by Hilton Charlotte Southpark, a five-story, 150-room hotel built in 2020 in Charlotte, North Carolina. Closed with new financing in place, the hotel was purchased at a 20% discount to MCR’s estimated replacement cost.
MCR has acquired the Courtyard by Marriott North Charleston, a four-story hotel with 138 rooms in North Charleston, South Carolina. The hotel was purchased with acquisition financing in place and is MCR’s fourth hotel in The Palmetto State.
MCR has acquired two hotels in Phoenix, Arizona - the 169-room Holiday Inn Express & Suites Scottsdale - Old Town and the 121-room Hampton Inn by Hilton Phoenix-Biltmore.
MCR has acquired the Hilton Miami Airport Blue Lagoon, a 14-story hotel with 508 rooms in Miami, Florida. With a prime waterfront setting within the Blue Lagoon business park, the hotel is located just south of Miami International Airport (MIA).
MCR 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.
MCR 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.