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MCR/MORSE Development Will Reopen the Iconic Gramercy Park Hotel

MCR the country s 3rd-largest hotel owner-operator has acquired the iconic Gramercy Park Hotel in New York City. MORSE Development, which developed the experiential TWA Hotel at New York City s JFK Airport, will bring back the magic and glamour of the five-star hotel, which has been closed since 2020. An extensive renovation will revitalize the lobby, the first-floor restaurants and bars, and the hotel s 197 guestrooms and suites. The spectacular 7,000-square-foot rooftop bar the only venue with a view of the exclusive Gramercy Park will also receive a full restoration.

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MCR Concludes a Record-Breaking 24 Months With $2 Billion of Real Estate Investments

MCR Concludes a Record-Breaking 24 Months With $2 Billion of Real Estate Investments
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Island Capital Group and MCR Acquire Sheraton New York Times Square Hotel for $373M

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 Square Hotel, an iconic 1,780-room hotel in the heart of midtown Manhattan and the unofficial Gateway to Times Square, for $373 million.

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Austin M&A wrap: Texas Monthly buys Texas Country Reporter; Optii acquired

Austin M&A wrap: Texas Monthly buys Texas Country Reporter; Optii acquired
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