The third-largest hotel owner-operator in the US, MCR, has secured a $333 million refinancing deal for its 16-hotel portfolio, generating $51 million in net proceeds. The portfolio, located in high-growth markets such as Texas, North Carolina, Florida, and Arizona, consists of 2,274 hotel keys. MCR's data-driven approach to hotel ownership has proven successful, with the net operating income of the portfolio doubling from $15 million to $36 million in less than three years.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $333,000,000
• Lender: Deutsche Bank & BMO Capital Markets
• Landlord: Tyler Morse - MCR
• Brokers: Eastdil Secured LLC; Fried, Frank, Harris, Shriver & Jacobson LLP
• Loan Type: Refinance

The refinancing deal was facilitated by Deutsche Bank and BMO Capital Markets, serving as the lenders in the transaction. Tyler Morse, representing MCR, acted as the landlord in the deal. The brokerage services were provided by Eastdil Secured LLC and the legal representation was handled by Fried, Frank, Harris, Shriver & Jacobson LLP.