CRONHEIM MORTGAGE ARRANGES $7,500,000 FOR

QUALITY INN AND SUITES IN MARYLAND
 

COLLEGE PARK, MD David Turley, Frank Sullivan, and Anna McGivaren have arranged $7,500,000 in financing for the Quality Inn and Suites in College Park, Maryland. The permanent loan has a 10-year term and a 25-year amortization. Primary demand generators include the adjacent University of Maryland’s flagship campus and its globally-renowned research park M Square, located within ˝ mile of the Subject.  

The subject property, a 168-room hotel, contains one five-story interior corridor building with covered parking beneath, and two two-story exterior-corridor buildings, along with a separate lobby building and free-standing restaurant outparcel. Hotel facilities include an outdoor pool, banquet facility, meeting rooms and office space for business travelers.  

The subject property is located along US Route 1 in College Park, Maryland, a quarter mile south of the University of Maryland campus. US Route 1 is an important regional thoroughfare and commercial corridor, linking the Subject not only to surrounding commercial uses and the University of Maryland, but also Washington DC 6.5 miles to the southwest.