MCR Raises $300 Million for its First Hotel Investment Fund

MCR purchased this Courtyard by Marriott Milwaukee in February for $ 24.5 million ($ 145,000/room) with proceeds from its first fund. MCR, the hotelier behind the High Line Hotel in Chelsea and the upcoming TWA Hotel at JFK, has just closed on its first fund. With a total raise of $ 300 million, the MCR Hospitality Fund LP garners $ 1 billion in buying power when accounting for leverage, according to Russ Shattan, senior vice president of acquisitions…
National Commercial Real Estate News From CoStar Group

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