Cronheim Hotel Capital (CHC) has secured $12.81M to refinance the existing debt on the 132-key Hyatt Place in the high-growth market of Wesley Chapel (Tampa), FL. The CHC team of Andrew Stewart, David Poncia and Brandon Szwalbenest placed the financing with a Midwest credit union's local FL branch and provided for a 10-year term on a 25-year amortization, with the first five years fixed at a rate of 6.25%. The loan features no prepayment penalty, giving the sponsor flexibility in an uncertain future rate environment.
