NEW YORK – Hotel owner-operator MCR has closed on a $420 million refinancing of 30 hotels across 17 states.
The financing was provided at an interest rate of SOFR +3.7% by lead left arranger Wells Fargo, joint lead arranger BMO Harris, Bank of America and Square Mile Capital.
The portfolio of assets comprises Marriott and Hilton hotels that total 3,792 rooms across high-growth markets, including Florida, Utah, Nevada, Colorado, Texas and South Carolina. The hotels boast strong historical and in-place cash flow.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
