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Chicago & Midwest  + Midwest  + Hospitality  | 

MCR Trades Downtown St. Louis Hilton

MCR has sold the 195-key Hilton St. Louis Downtown at the Arch, which it purchased from Xenia Hotels & Resorts in December 2016 as part of a $119-million portfolio. The New York City-based hotel owner-operator did not disclose the buyer or the selling price for the St. Louis property in the current transaction.

MCR generated a 44% IRR on the investment. The sale closed this past Thursday.

“The returns generated by the sale of this property are a testament to MCR’s investment strategy: purchasing well-located hotels, improving operations and selling opportunistically — in this case, less than two years after acquiring the property,” said Tyler Morse, CEO and managing partner of MCR and MORSE Development. MCR’s holdings include 10 properties across the Midwest, part of a 24-state hotel portfolio.

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About Paul Bubny

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. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).