Braemar Hotels & Resorts Completes Acquisition Of The Mr. C Beverly Hills Hotel

Braemar Hotels & Resorts | August 6, 2021

DALLAS - August 6, 2021 - Braemar Hotels & Resorts Inc. today announced that it has completed the acquisition of the 138-room Mr. C Beverly Hills Hotel in Los Angeles, California (the "Mr. C" or the "Property"), previously announced on June 1, 2021.  In addition, the Company acquired five luxury condominium residences adjacent to the hotel.  The total consideration for the acquisition was $77.9 million and consisted of $65.4 million for the hotel ($474,000 per key) and an allocated price of $12.5 million for the five adjacent condominium units.  The acquisition was funded with approximately $30 million of cash, 2.5 million ...