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.
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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.
