EXTON, PA— AFC Realty Capital has completed a $12.5-million recapitalization of the Inn at Chester Springs here. The transaction allowed the hotel ownership, Haverford Hotels, to refinance its existing mortgage, initiate a comprehensive renovation of the property and buy out its institutional equity partner, according to AFC Realty Capital, a New York City-based real estate investment bank. The long-term, fixed rate financing at 5.6% was provided by an institutional source. This represents the fourth transaction arranged by AFC Realty Capital on behalf of Haverford Hotels. The 215-room Inn at Chester Springs is centrally situated between Philadelphia, Reading, Lancaster and the Brandywine Valley.
