NEW YORK—MCR Hotels, Island Capital Group, and JLL’s Hotels & Hospitality Group announced that MCR and Island have closed on a $260 million refinancing of the 1,780-key Sheraton New York Times Square. The four-year, floating-rate loan retires $250 million in outstanding seller financing that was sourced when MCR Hotels and Island Capital acquired the hotel in April 2022. The new financing was provided by funds managed by affiliates of Fortress Investment Group LLC. Andrew Farkas, […]

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