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Sign in Sign up for a FREE subscriptionMCR Development seeks $450m for latest hospitality fund
New York City–based MCR Development has launched a new $450 million hospitality fund, MCR Hospitality Fund II, according to an SEC Form D.
The launch comes two years after the closing of the fund’s predecessor, which raised its target $300 million in June 2018. The fund gathered a diverse mix of investors, such as endowments, foundations, charitable trusts, high-net-worth individuals and principals of MCR, according to the firm.
The original MCR Hospitality Fund was an opportunistic real estate fund focused on investments in hotels in secondary and tertiary markets across the United States. MCR Hospitality Fund targeted investments in institutional-quality Marriott and Hilton select-service and extended-stay hotels throughout the country.
