Cronheim Hotel Capital Secures $13.065 Million Refinance For Hampton Inn In Wyomissing Pennsylvania

The asset involved in this transaction is a hotel located at 1800 Papermill Road in Wyomissing, PA. The loan amount secured was $13,065,000, featuring a five-year fixed-rate loan. The financing aims to support the funding of renovation and replace prior CMBS debt.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $13,065,000
• Loan Terms: five-year fixed-rate
• Market: Wyomissing, PA
• Brokers: David Turley - Cronheim Mortgage

Cronheim Hotel Capital facilitated the refinance for the Hampton Inn, with backing from a national credit union syndicate. The loan structure allows for no prepayment penalty, offering the sponsor increased flexibility. The hotel enjoys steady demand from the surrounding Fortune 500 firms, healthcare systems, and universities.