Island Capital Group and MCR Acquire Sheraton New York Times Square Hotel for $373M

Island Capital | April 20, 2022

Joint venture marks the second high-profile hotel transaction between Island Capital and MCR and demonstrates continued optimism in the recovery of New York City's hospitality industry NEW YORK, April 20, 2022 -- MCR, a leading hotel investor and the third-largest hotel owner-operator in the United States, and Island Capital Group LLC ("Island Capital"), a leading international real estate merchant bank that controls a diverse group of real estate services companies engaged in fund management, principal investment, and financial advisory and consulting services, today announced that they have jointly acquired the Sheraton New York Times ...