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NYC Investor Picks Up 10 Baltimore Area Hotels

Skye Hospitality Trades 1,294-Room Portfolio
December 24, 2012
New York City-based MCR Development LLC, an owner and operator of limited-service hospitality properties, purchased 10 hotels in the Baltimore, MD, area. The price was undisclosed.

Skye Hospitality LLC, the seller, is a family-owned firm that developed and operated each location under franchise agreements with Hilton and Marriott.

The 1,294-room portfolio consists of:
  • Hampton Inn and Suites Arundel Mills, 130 rooms at 7027 Arundel Mills Circle in Hanover;

  • Residence Inn Arundel Mills, 131 rooms at 7035 Arundel Mills Circle in Hanover;

  • SpringHill Suites Arundel Mills, 128 rooms at 7544 Teague Road in Hanover;

  • TownePlace Suites Arundel Mills, 109 rooms at 7021 Arundel Mills Circle in Hanover;

  • Hampton Inn Baltimore Downtown, 126 rooms at 550 Washington Blvd. in Baltimore;

  • Hampton Inn White Marsh, 127 rooms at 8225 Town Center Drive in Baltimore;

  • Hilton Garden Inn White Marsh, 155 rooms at 5015 Campbell Blvd. in Baltimore;

  • Residence Inn White Marsh, 131 rooms at 4980 Mercantile Blvd. in Baltimore;

  • Fairfield Inn and Suites White Marsh, 116 rooms at 8477 Cordon Way in Baltimore; and,

  • Residence Hunt Valley, 141 rooms at 45 Schilling Road in Hunt Valley.

Mark Popovich, Dan Peek, Max Comess, Christopher Lingerfelt and Alexandra Lalos of HFF represented the seller.

Prior to its acquisition of the Skye Hospitality platform, MCR Development owned 20 hotels comprising 2,260 rooms in 10 states, primarily in the Northeast.

See CoStar COMPS #2624630 for more information.
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