Cronheim Capital Secures $13.25 Million for Acquisition of Hampton Inn & Suites Prattville
🏨 Cronheim Hotel Capital secured $13.25 million from a regional bank for the leasehold acquisition and ownership change PIP of the Hampton Inn & Suites in Prattville, Alabama. The five-year financing includes 18 months of interest-only payments and no prepayment penalty. Located near Montgomery, the hotel will undergo a full property refresh. David Turley, CHC president, highlighted the unique leasehold aspect and praised the bank's understanding of the asset's market potential.
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