CRONHEIM MORTGAGE ARRANGES $7.3 MILLION HOTEL LOAN

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MOUNT LAUREL, N.J. — Chatham, N.J.-based David Cronheim Mortgage Corp. has arranged a $7.3 million loan for the Hampton Inn located at 500 Crawford Place in Mount Laurel. Situated on 2.36 acres, the four-story hotel contains 126 guestrooms, approximately 500 square feet of meeting space, a business center and an outdoor swimming pool. It is currently operated under a long-term franchise agreement with Hampton, which is a subsidiary of Hilton Hotels Corp. The loan carries a 10-year term and was originated by Cronheim’s David Turley, Frank Sullivan and Anna McGivaren. The borrower and lender were not disclosed.

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