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MCR Acquires 164-Room SpringHill Suites by Marriott Boston Peabody

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SpringHill Suites by Marriott Boston Peabody is MCR's first property in Massachusetts.

PEABODY, MASS. — MCR Development LLC, a hotel owner and manager headquartered in New York City and Dallas, has acquired the SpringHill Suites by Marriott Boston Peabody, a 164-room hotel located approximately 30 miles north of Boston. The sales price was $16.2 million. Situated at 43 Newbury St., the hotel offers convenient access to State Route 1 and Interstate 95. Amenities include a fitness center and saltwater pool. The property is MCR’s first in Massachusetts. New York City-based investor Lightstone Group was the seller.

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