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MCR and BLT Joint Venture Close $647.5 Million Portfolio Financing for 53 Hotels

Resident Inn Norfolk Downtown, Virginia
NEW YORK—A joint venture of MCR and Building and Land Technology (BLT) has completed a $647.5 million financing across a 5,958-guestroom national portfolio of 53 Marriott and Hilton select-service and extended-stay hotels spanning 15 states and 31 markets. Thirty-three of the hotels are Marriott-branded, while 20 properties operate under Hilton brands. On average, the portfolio’s hotels are 12 years...