Cronheim Secures $29.2M Acquisition Financing for Westin Hotel Near Baltimore/Washington Airport

LINTHICUM HEIGHTS, MD. — Cronheim Hotel Capital (CHC) has secured a $29.2 million loan for the acquisition and repositioning of the Westin Baltimore Washington Airport — BWI. The 260-room hotel is located two miles from Baltimore/Washington International Thurgood Marshall Airport. CHC arranged the three-year, non-recourse bridge loan on behalf of the borrower, Washington, D.C.-based Frontier Development. Crestline Hotels & Resorts — Frontier’s third party management company — is managing the property. The hotel was constructed in 2007 and features a complimentary airport shuttle, fitness center, 10,850 square feet of meeting space and an indoor swimming pool.