NYC-area hotel portfolio sells for $164M

Updated 12:39 p.m.] MCR Development has acquired a portfolio of 10 Marriott and Hilton hotels for $164 million, marking one of the largest hotel deals in the country so far this year, according to commercial real estate services firm CB Richard Ellis, which brokered the deal. The collection of mostly extended-stay hotels, include 1,100 rooms across New York, New Jersey, Connecticut and Pennsylvania.

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