Cronheim Hotel Capital secures $30.3 million to refinance the Alloy Suites King of Prussia Doubletree

King of Prussia, PA Cronheim Hotel Capital (“CHC”) secured a $30.3 million loan for affiliates of Concord Hospitality to refinance the existing note on the 327 room DoubleTree. Beau Williams, senior managing director, and Drew Gilligan, director, arranged the loan.

“In a competitive credit environment marked by stricter lending profiles, we partnered with a sponsor-friendly lender to deliver a strong execution with favorable terms. The deal was anchored by experienced sponsorship and solid in-place performance. Credit was drawn to the institutional-quality asset and its positioning within a core submarket outside of Philadelphia,” said Williams.