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MCR Development of New York purchased the TownPlace Suites by Marriott at 6595 S Bay Colony Drive in Tucson for[mepr-show rules="58038"]$7.21 million ($79,176 per suite). The 3-story hotel, (constructed 2008) is 50,371-square-feet with 91-suites. The Tucson Airport hotel offers a pool, complimentary airport shuttle, basketball court, laundry room, free breakfast buffet and fully equipped kitchens in all the suites.
The Tucson Marriott hotel was part of a 26 Marriott and Hilton hotels portfolio that MCR Development acquired from Western International of Dallas, TX for $430 Million.
MCR will own and manage all 26 hotels, each of which will continue to operate under its respective Marriott or Hilton brand affiliations, with long-term franchise agreements in place.
"We are excited to expand our partnership with the Marriott and Hilton brand families. The Western International hotels are built to a very high standard, and stand out amongst the competition. This investment provides great growth opportunities for our team members, and for our company to expand into new markets and continue to deliver high returns to our investors," said Tyler Morse, CEO of MCR Development.
This portfolio is comprised of 3,002 rooms in four states with an average age of approximately 4 years old.
MCR Development LLC is one of the twenty largest hotel owner-operators in the country and manages a portfolio of 56 premium-branded hotel properties with approximately 7,000 rooms in 15 states. MCR operates hotels under 9 brands and has approximately 2,000 employees.
Morse can be reached at (212) 277-5601. TownPlace Suites should be contacted at (520) 294-6677.[/mepr-show]
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[ismember] Sale date: 10/17/2013. Conventional financing, but no down payment shown on public records. There were no brokers involved according to the local manager at the hotel.[/ismember]