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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