The properties are a Home2 Suites by Hilton, a Hilton Garden Inn and a Homewood Suites by Hilton. All three are close to the 44,000-student University of Illinois campus and the newly renovated State Farm Center arena, home of the Fighting Illini Women's and Men's Basketball teams.

"These three well-located Hilton-branded properties are positioned to benefit significantly from the University of Illinois' continued growth and are expected to produce attractive returns for our investors," said Tyler Morse, CEO and managing partner of MCR. "The acquisition continues our investment strategy of purchasing premium-branded select service and extended stay hotels with operations upside."

The 104-suite Home2 Suites by Hilton Champaign/Urbana opened in 2016. The hotel's suites come with free Wi-Fi, free breakfast, self-service laundry facilities, a fully-equipped fitness centre with an indoor pool, A 24-hour convenience store, an outdoor area with seating, cooking grills and a fire pit, meeting space that can accommodate 50 people, a 24-hour business centre and free scheduled shuttle service to the University of Illinois Willard Airport.

The Homewood Suites by Hilton Champaign/Urbana also include free breakfast each morning and a complimentary evening social Monday through Thursday. The hotel also comes with a fitness centre, indoor pool, basketball and tennis courts, a 24-hour convenience store, complimentary grocery shopping service and on-site laundry facilities. A 24-hour business centre and meeting space for up to 50 people is also on offer.