MCR has acquired the Canopy by Hilton Charlotte Southpark, a five-story, 150-room hotel built in 2020 in Charlotte.
Closed with new financing in place, the hotel was purchased at a 20% discount to MCR’s estimated replacement cost. This is the company’s sixth hotel in North Carolina and its first Canopy by Hilton hotel.
Situated in the upscale commercial and residential Charlotte suburb of Southpark, the hotel is located 25 minutes from the Charlotte Douglas International Airport. South Charlotte is one if the fastest growing areas in the Charlotte metropolitan area, with population growth of more than 70% since 2010—four times the national average.
Southpark is the second-largest business district in Charlotte with more than five million sq. ft. of office space. This includes more than two million sq. ft. of office within a few blocks of the hotel—including the headquarters for Nucor, National Gypsum, Coca-Cola Consolidated, Albemarle and Piedmont Natural Gas, among others. Less than seven miles away is Uptown Charlotte, which serves as the headquarters for Fortune 500 companies like Bank of America, Duke Energy and Honeywell.
