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MCR closes hotel fund at $300 million

Hotel owner and operator MCR closed its MCR Hospitality Fund LP at $300 million, with roughly $1 billion in purchasing capacity.

The fund targets investments in institutional-quality Marriott International Inc. and Hilton Worldwide Holdings Inc. select service and extended stay hotels.

The fund has purchased 11 hotels, for $160 million in aggregate deal volume and $62 million in total equity, since August 2017, comprising four Marriott hotels and seven Hilton hotels.