Apperson Aids MCR Development's Md. Hotel Portfolio Buy

Law360, New York (December 21, 2012, 5:49 PM EST) -- New York-based investment firm MCR Development LLC has scooped up a portfolio of 10 Marriott- and Hilton-branded hotels in the Baltimore area from Skye Hospitality LLC, significantly bolstering its holdings and topping off its 2012 spending spree, MCR announced Friday.

Financial details of the transaction were not disclosed, but broker Holliday Fenoglio Fowler LP said the deal was done "free and clear of debt," according to a statement. The acquisition builds on the hotel investment company's recent buys of properties in New Jersey, Florida and New...
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