Cronheim Hotel Capital secures $18.2 million for the Aloft Hotel

Newport, KY Cronheim Hotel Capital (CHC) has secured $18.2M for the acquisition of the Aloft Hotel, directly across the Ohio River from downtown Cincinnati. The financing was originated with a regional bank and provided attractive terms and flexibility for the Sponsor.

Due to the adjacent footbridge over the Ohio River, the hotel is walking distance to downtown Cincinnati and the many entertainment amenities and attractions of The Banks. The property was built in 2017 and the Sponsor will complete a refresh of all guest rooms after acquisition.

David Turley of CHC, said, “We’re pleased to help Rolling Hills add another great asset to their portfolio. In today’s difficult lending environment, the right financing can be very accretive to a deal. We work hard to make sure we find the most competitive terms – and then deliver them.”