Among
the noteworthy deals of the past week is MCR’s $22.1 million sale of the
Residence Inn by Marriott Philadelphia Langhorne to Baywood Hotels.
New York City-based MCR has completed the sale of the
100-key Residence Inn by Marriott Philadelphia Langhorne for $22.1 million (or
$221,000 per key) to Columbia, Maryland-based Baywood Hotels.
MCR acquired the hotel in 2018 for $13.2 million, or
$132,000 per key. It completed a $3 million upgrade of the hotel’s public
spaces and guestrooms in June 2020.
Since the beginning of 2023, MCR has completed a series of
dispositions for seven hotels for gross proceeds of $174 million, or $210,000
per key.
To download our list of deals from the past week in Excel
format, click here.