Assignment Overview
RobertDouglas represents MCR in its sale of three premium select-service properties totaling 330 rooms to the Braintree Group.
Project Overview
Totaling 330 rooms, the properties include the Courtyard by Marriott Lehi at Thanksgiving Point and the SpringHill Suites by Marriott Lehi at Thanksgiving Point, both in Lehi, Utah; and the Hilton Garden Inn Las Vegas/Henderson, in Henderson, Nevada. Braintree plans to launch a renovation to the SpringHill Suites by Marriott and a property refresh of the Courtyard by Marriott at the end of 2024, while the Hilton Garden Inn Las Vegas/Henderson opened in 2007 and underwent a renovation in 2020.
Lehi, Utah lies between Salt Lake City and Orem-Provo along I-15. Of note, Texas Instruments plans a $11 billion expansion of its microchip fabrication plant based in Lehi. This Texas Instruments chip factory at its Lehi Silicon Slopes location will add 800 jobs to the existing 1,100 at the site.
Deal Highlights
| Client (Borrower): Buyer: Sale Proceeds: Key Count: | MCR Hotels The Braintree Group Undisclosed 330 |
