CRONHEIM MORTGAGE ARRANGES $25,000,000 FINANCING

FOR RADISSON HOTEL, BOSTON, MASSACHUSETTS

BOSTON, MA – Andrew Stewart and Dev Morris of David Cronheim Mortgage Corporation have arranged $25,000,000 financing on the Radisson Hotel located at 200 Stuart Street in Boston, Massachusetts. The loan has a term of 6 years and is amortized over 25 years.

Built in 1972 and completely renovated in 1997, the 356-room full service hotel contain 24 stories and  includes a café, restaurant, bar, and 20,000 square feet of meeting space. The property also features the Stuart Street Playhouse, a 10,533 square foot, 400-seat theater for off-Broadway productions. Health and fitness facilities are provided, including an indoor pool, fitness room and sauna.  The property contains a 750-space parking garage which occupies floors 2-5 of the hotel; and the 356 guest rooms are located on floors 9-23, with beautiful views of the city.  When constructed, the property was among the largest precast concrete buildings in the world and presently contains some of the largest hotel guest rooms in the city of Boston.

The Radisson Hotel is located at the intersection of Stuart Street and Charles Street in the Park Square area of downtown Boston.  The Boston Common, Four Seasons Hotel, and the Ritz Carlton are all located within a 2 block radius.  In addition, located across the street from the hotel is One Charles St. South, a new $160 million 19-story luxury condominium tower.