Cronheim Mortgage and CHC Announce $771MM in Production in First Half 2015
Chatham, NJ – Cronheim Mortgage and its affiliated hotel finance arm, Cronheim Hotel Capital, announced a strong start to 2015, with $771 million in transactions closed or committed during the first half of the year. The transactions include many long-term permanent loans along with a variety of construction, forward permanent, bridge loans and equity capital.
“Our performance in the first half of the year demonstrates the value of our correspondent and servicing relationships, where we continue to create value post-closing,” said Cronheim CEO, Andrew Stewart. “Many of our first half transactions were 15 year terms or longer, which is the kind of capital that is not easy to access.”
CHC Principal, David Turley, noted the firm’s diverse activities through the first half of 2015. “We were successful across many different asset types and deal structures. And we were pleased to be engaged by a number of new clients in addition to long-term relationships. We pride ourselves on advocating for our clients and becoming a part of their team; the number of repeat clients and referral business validates our service-oriented business model.”
“We see continued success and a strong deal pipeline through the end of 2015,” explained Managing Director, Janet Proscia. “Even with the recent market uncertainties our clients recognize the financing environment offers excellent opportunities to secure long-term, fixed-rate debt. By leveraging our relationships and resources we will continue to provide reliable execution to our clients.”