The Hampton Inn & Suites Tallahassee has obtained $17.4 million in refinancing in a transaction secured by Cronheim Hotel Capital (CHC).
The loan—which was received from Live Oak Bank—replaces existing financing and supports the property following a recent renovation and operational reset. The floating-rate structure is designed to allow hotel ownership, ARK Holdings, to benefit from potential downward movements in interest rates. The financing carries a fully extended five-year term and includes one year of interest-only payments as the hotel continues its post-renovation ramp-up.
“We are extremely pleased with the results of this refinancing transaction with Live Oak Bank,” Kyle Sykes, vp of finance at St. Petersburg, Fla.-based ARK Hospitality, said in a statement. “The true beneficiaries of this transaction are our owners and investors, and we could not be happier for them.”
Located minutes from Florida State University and the Florida State Capitol, the recently renovated Florida hotel completed a full-property refresh in 2025. The hotel has undergone an ownership transition and recently completed a brand-required property improvement plan.