Cronheim Arranges $28.5M Loan for Refinancing of Downtown Philadelphia Hotel

by Taylor Williams

PHILADELPHIA — Cronheim Hotel Capital, a division of New Jersey-based intermediary Cronheim Mortgage, has arranged a $28.5 million loan for the refinancing of the Renaissance Philadelphia Downtown hotel. The number of rooms was not disclosed. The hotel’s amenities include business and fitness centers, as well as meeting/event space and two onsite restaurants. The loan was structured with interest-only payments and a fixed interest rate. The direct lender and borrower were also not disclosed.

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