Cronheim Hotel Capital Secures $39M Construction Financing for AC Hotel Knoxville Downtown

Cronheim Hotel Capital Secures Funds for Construction of AC Hotel Knoxville Downtown

Cronheim Hotel Capital (CHC) has secured $39M for the construction of the AC Hotel Knoxville Downtown. The financing provides up to 75 percent of the total project costs on a non-recourse basis and incorporates a creative CPACE structure with future funding to minimize the total CPACE interest expense. The property will be developed by Vector Hospitality Inc. Scheduled to open in winter 2026, the seven-story, 161-room AC by Marriott will include…

Hilton Debuts The 1st LivSmart Studios Brand In Tullahoma, TN.

Hilton debuted the first hotel of its game-changing new extended-stay brand LivSmart Studios by Hilton in Tullahoma, Tennessee.  The inaugural 89-room property, brings a fresh new approach to a fast-growing category and will soon be joined by the brand’s second hotel in Kokomo, Indiana.  That location is on track to open its doors later this summer.   LivSmart Studios Tullahoma, developed in partnership with 3H Group, Inc. and Aztec Group, LLC, …

Cronheim Hotel Capital Secures $39M Construction Financing for AC Hotel Knoxville Downtown

KNOXVILLE, TENN. — Cronheim Hotel Capital has secured $39 million in construction financing for AC Hotel Knoxville Downtown, a 161-room AC by Marriott-branded hotel that will be located at 427 Walnut St. and 416 Locust St. in downtown Knoxville. The non-recourse financing was structured with a 75 percent loan-to-cost (LTC) ratio and features a C-PACE component. The borrower, Vector Hospitality Inc., plans to deliver the seven-story hotel in wint…