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The national portfolio owned by New York City-based MCR and BLT of Stamford, CT, encompasses 5,958-guestrooms at 53 Marriott and Hilton select service and extended stay hotels located in 15 states and 31 markets.
Under the terms of the GRP I joint venture, Northwestern Mutual will acquire an 85% interest in the 17-center portfolio which is currently valued at $368 million.
On the radio program, the mayor pointed to the city's public housing and affordable housing programs and took a swipe at the City of San Francisco, who he said enacted zoning policies that has transformed it to a city for the wealthy.
It is on track to acquire another local apartment by year end in the Baltimore-Washington Corridor just north of BWI Airport and the NSA headquarters at Fort Meade.
The 23 Class A properties are located in the Atlanta, Austin, Charlotte, Dallas, Denver, Houston, Las Vegas, Nashville, Orlando, Phoenix, Raleigh, San Antonio and Tampa markets.