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News
08Feb2019
Hunter Hotel Advisors sells NEW Merchant-Developed Hampton Inn & Suites, Waukegan, IL to MCR
Hunter Hotel Advisors - the nation’s leading investment advisory firm focused exclusively on the hotel industry – announces that MCR has purchased the Hampton Inn & Suites Waukegan, IL from Waukegan Star Realty.
This new property – opened in October 2018 – boasts 116 guestrooms and an indoor pool. The hotel is in a prime location near pharmaceutical giants Abbott Laboratories, AbbVie and Cardinal Health, as well as an Amazon warehouse and Naval Station Great Lakes.
Mayank Patel, Vice President, Hunter Hotel Advisors, said: “Waukegan Star Realty was instrumental in executing the transaction smoothly a few months after opening this first-class asset in the developing Chicago suburb. MCR has a strong portfolio of select-service hotels and the Waukegan asset will be a great addition as MCR continues to grow through strategic acquisitions.”
“Our firm has been able to develop great relationships with regional hoteliers that act as merchant developers for the large REITs and private equity groups that need yield from day one vs. an 18- to 24-month construction period. Congratulations to MCR and Waukegan Star Realty on this successful transaction.” – Teague Hunter, President, Hunter Hotel Advisors.
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