CRONHEIM MORTGAGE ARRANGES $11,000,000

FOR VALLEY FORGE HAMPTON INN & SUITES

Valley Forge, PA – David Turley has arranged acquisition financing of $11,000,000 for the Valley Forge Hampton Inn & Suites. The loan is 80% of the property’s purchase price and carries a 10-year term with five years interest-only followed by a 30-year amortization schedule.

The property is a five-story limited-service hotel consisting of 107 guest rooms and 1,250 square feet of meeting space. The hotel was built in 1999 and during 2005 and 2006 underwent significant renovations to the guest rooms and common areas. Since its opening, the hotel has consistently averaged high occupancy rates of approximately 70% thanks to the value of the Hampton Inn & Suites flag, an active renovation policy and superior operations.

The property is located on Cresson Boulevard in Valley Forge, Pennsylvania, 25 miles northwest of Center City, Philadelphia. Local demand generators are plentiful. Transient, leisure and group business is driven by the hotel’s proximity to the Valley Forge Convention Center (less than four miles away), Valley Forge National Historic Park (two miles away), the site of the famous Revolutionary War battle, and King of Prussia Mall, the second-largest enclosed mall in the country. These three destinations attract thousands of visitors annually. Corporate business comes from the local office market, which, at over 16 million square feet of space, is the largest suburban office market in Pennsylvania.