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Seattle & Northwest  + Chicago & Midwest + Seattle  + Hospitality  |  October 20, 2023
146-Room Renton Residence Inn Bought for $55M
Jasmine Kilman
By: Jasmine Kilman

146-Room Renton Residence Inn Bought for $55M

MCR, the country’s third-largest hotel owner and operator, has completed the sale of the 146-room Residence Inn by Marriott Seattle South/Renton located in Renton, Washington.

The asset sold for $55.5 million, or approximately $380,000 per key. The firm had purchased the hotel for $41.8 million, or approximately $286,000 per key, in June 2021.

The Marriott Seattle South/Renton is located at 1200 Lake Washington Boulevard. The property offers easy access to Renton Technical College and nearby Mercer Island. The hotel is less than 10 miles from Seattle-Tacoma International Airport and King County International Airport/Boeing Field.

MCR is a hotel management company with offices in New York City, Dallas, Chicago and Richmond, Virginia, and has invested in and developed 189 hotel properties operated under 31 brands.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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