Cronheim Hotel Capital secures $30 million to finance the Aloft Indianapolis Downtown

February 25, 2025 - Outside The Region

Indianapolis, IN Beau Williams and Drew Gilligan of Cronheim Hotel Capital (“CHC”) have secured a $30 million loan on behalf of Everwood Hospitality Partners to finance the recently converted 128-room Aloft Indianapolis Downtown.

Williams, senior managing director, said, “The Everwood team’s innovative approach to hospitality continues with their most recent project, converting the historic Stock Yards Bank & Trust Co. office building into a phenomenal hotel in the core of downtown. We are appreciative of our banking relationships to help structure the deal with future growth in mind."

Gilligan, director of CHC, said, "Downtown Indianapolis continues to see positive momentum nationally and regionally. The new aloft is primed to take advantage of everything the city has to offer.”

The new aloft is located in downtown Indianapolis, walking distance from the Indiana Convention Center, Lucas Oil Stadium, Gainbridge Field, Monument Circle and major employers in the surrounding area.