Hampton Inn & Suites Newark Airport Elizabeth at 100 International Blvd. in Elizabeth — Courtesy: Cronheim Hotel Capital
By Joshua Burd
The owner of a newly updated hotel near Newark Liberty International Airport has refinanced the property, in a deal arranged by Cronheim Hotel Capital.
The operator, Infinity Hotels LLC, secured the senior loan after acquiring the former Country Inn & Suites in 2022, according to a news release. It has since completed a renovation of the property at 100 International Blvd. and reflagged it as a Hampton Inn.
Terms of the loan were not disclosed. In announcing the deal, Cronheim Hotel Capital noted that the hotel is minutes from the airport, Port Newark-Elizabeth and the Cape Liberty Cruise Port.
“Infinity has done an excellent job creating value through their conversion to Hampton Inn,” said David Turley, president of CHC. “When a few hurdles came up during the closing process we remained involved to address the issues, explore options and negotiate solutions that worked for all parties. Our involvement doesn’t end once a term sheet is signed. Clients often find the most value from our engagement during the closing process.”