Cronheim Hotel Capital (CHC) has arranged a $16 million loan for the refinancing of two hotels in Lookout Valley - a Hampton Inn and a Fairfield Inn & Suites.
Cronheim arranged the 10-year loan with a 30-year amortization schedule and a fixed interest rate of 4.12 percent on behalf of the borrower, Vision Hospitality Group Inc.
The Chattanooga-based company developed the Hampton Inn and Fairfield Inn in 2009 and 2013, respectively.
The properties share a common parking lot and feature business centers, meeting rooms, fitness centers and swimming pools.