MCR has acquired a trio of Hilton-branded hotels in Champaign, IL, within walking distance of the 44,000-student University of Illinois campus. The college town is also home to Jimmy John’s, Wolfram Research and Yahoo!
Included in the acquisition were the Home2 Suites by Hilton Champaign/Urbana, the Hilton Garden Inn Champaign/Urbana (pictured), and the Homewood Suites by Hilton Champaign/Urbana. MCR did not disclose the sellers or financial terms of the deal.
“These three well-located Hilton-branded properties are positioned to benefit significantly from the University of Illinois’ continued growth, and are expected to produce attractive returns for our investors,” said MCR CEO Tyler Morse. “The acquisition continues our investment strategy of purchasing premium-branded select service and extended-stay hotels with operations upside.”
Earlier this month, MCR acquired a Hilton Garden Inn in Loveland, OH, near Cincinnati. The New York-based hotel operator bought a Courtyard by Marriott in downtown Milwaukee in April.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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