News: Front Section
Posted: July 2, 2008
Turley and Sullivan of Cronheim secure $32.64m for Va. hotel portfolio
David Turley and Frank Sullivan of Cronheim Mortgage have arranged $32.64 million in acquisition financing for a portfolio of two Fairfield Inns and a Hampton Inn. The financing is comprised of $30.72 million in senior debt and $1.92 million in mezzanine debt.
Turley and Sullivan arranged $11.12 million in senior financing and $695,000 in mezzanine financing for the Chantilly Virginia Fairfield Inn. The property consists of a three-story 85-room limited service hotel.
Turley and Sullivan arranged $9.44 million in senior financing and $590,000 in mezzanine financing for the Woodbridge Virginia Fairfield Inn. The property consists of a three-story 85-room limited service hotel located on Prince William Pwy.
Turley and Sullivan arranged $10.16 million in senior financing and $635,000 in mezzanine financing for the Woodbridge Virginia Hampton Inn. The property is a four-story 87-room limited service hotel.
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