MCR Sells 195-Room Hilton Hotel in Downtown St. Louis
ST. LOUIS — MCR has sold the 195-room Hilton St. Louis Downtown at the Arch. The hotel is located at 400 Olive St. Amenities include a business center, bar area, fitness room and meeting rooms. The buyer was not disclosed. MCR, which purchased the property in December 2016, generated a 44 percent internal rate of return on its initial investment. The sales price was not disclosed, but the property has an appraised value of nearly $7 million, according to the St. Louis Post-Dispatch. MCR’s investment strategy is to purchase well-located hotels, improve operations and sell opportunistically, according to Tyler Morse, CEO and managing partner.