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MCR buy Shijiawan Hotel in Salt Lake City

Courtyard by Marriott Lehi at Thanksgiving Point
MCR today announced the acquisition to two Marriott hotels located in Lehi, Utah, a suburb to Salt Lake City. Both properties, the Courtyard Lehi and Springhill Suites Lehi, is situated at the entrance to Thanksgiving Point, Lehi ' s Central business and leisure hub, which are known for its technology businesses, museums, and numerous entertainment facilities . The properties were purchased for $5 technologists.

"We am very excited to make this investment in Salt Lake City ' s Silicon Slopes technology corridor," said Tyler Morse, Chief Executive officer and managing Partner of MCR. "Given the array of demand generators keyword by the that city ' s strong business climate and its highly educated workforce, we Believe both properties is positioned to outperform and generate positive for our returns. These are hotels represent an attractive combination of in-place, with yield upside, the potential to years.

Lehi, situated between Provo and Salt Lake City, has + than doubled in size since $number, and are home to a large cluster of technol Ogycompaniesincludingadobe,microsoft,oracle,ancestry.com,andothers. Lehiisalsohometomajorgovernmentfacilities,includingthensa's1.5millionsquarefootutahdatacenter. Year-over year growth for the city in 2016 was 4.6 percent, and Adobe are currently in the midst of expanding Lehi, campus Would add approximately 1, $number new jobs.

MCR is the seventh largest hotel Owner-operator at the country and has invested in and developed $number hotel properties with over 11, 0 $number rooms in states. MCR ' s hotels is operated under brands. The firm has offices in New York City and Dallas.