Cronheim Hotel Capital Arranges $13.3M Acquisition Loan for Hampton Inn Hotel in Prattville, Alabama

Cronheim Capital Secures Financing for Acquisition

Cronheim Hotel Capital (CHC) has secured $13.25 million from a regional bank to capitalize the leasehold acquisition and change of ownership PIP for the Hampton Inn & Suites in Prattville, Alabama. The five-year financing includes 18 months of interest only and no prepayment penalty for the life of the loan.  The hotel is located just outside of Montgomery and proximate to a variety of demand generators, such as Maxwell Air Force Base and the Al…

Cronheim Hotel Capital Arranges $13.3M Acquisition Loan for Hampton Inn Hotel in Prattville, Alabama

PRATTVILLE, ALA. — Cronheim Hotel Capital has arranged a $13.3 million acquisition loan for Hampton Inn & Suites, a hotel located at 2590 Cobbs Ford Road in Prattville, a northern suburb of Montgomery, Ala. The new owner plans to fully renovate the hotel. Cronheim arranged the financing on behalf of the undisclosed borrower through a regional bank. The five-year loan features 18 months of interest-only payments and no prepayment penalty for the …