MCR sells 18 hotels to American Hotel Income Properties REIT

TRD New York /
Jul.July 07, 2017 05:04 PM

MCR, one of the biggest hotel builders and managers in the country, has just sold Marriott and Hilton hotels in New York, New Jersey, Maryland and Pennsylvania in a sale to American Hotel Income Properties REIT that was announced last week. The $407.4 million selloff of a total of 2,187 rooms works out to $186K per room at a 7.9 cap rate, according to an official statement on the deal. [Bisnow]

Related Articles

Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

WeWork’s side businesses are fizzling

Compass doesn’t want a jury trial in the Avi Dorfman case

Another WeWork exec is out, Bank OZK’s construction lending is up: Daily digest

Co-living trend of renting bedrooms is back and here to stay: TRD Miami Showcase & Forum

SoftBank rescue plan would bring WeWork’s valuation to $8B

Bank OZK reports uptick in construction lending in Q3