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Posted: November 28, 2008
Turley and Sullivan of Cronheim secure $8.125m
David Turley and Frank Sullivan have arranged $8.125 million in financing for the Days Inn SeaTac Airport and the Quality Inn in Laurel, Md.
Cronheim financed the 85-room mid-rise Days Inn for $3.35 million on a 10-year term with a 25-year amortization schedule. ?
Cronheim also financed the Quality Inn for $5.075 million on a ten-year loan with a 30-year amortization. The subject is a 96-room five-story interior corridor hotel (four rooms have exterior corridors).
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