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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 full term.
The Hampton Inn & Suites Prattville has 101 rooms and suites, as well as an outdoor pool, fitness center, meeting rooms and complimentary breakfast, according to the property website.