02.01.17

PMZ Realty Capital Arranges $11.9 Million Loan for TownePlace Suites by Marriott Las Colinas

PMZ Realty Capital, LLC, a national boutique real estate investment banking firm focused on creating advantageous capital structures for its clients, announced today it has arranged a $11,900,000 acquisition loan for the TownePlace Suites by Marriott Las Colinas, Irving, Texas.

The 135-suite property offers guests a choice of studio, one- and two-bedroom suites with fully equipped kitchens and free grocery delivery. The hotel features complimentary breakfast buffet, fitness center with free weights and cardio machines and outdoor pool along with one room of meeting space totaling 340 square feet.

The buyer needed to ensure closing happened in thirty days and that included Christmas and New Year’s in the middle, of that period” said Peter Berk, President, PMZ Realty Capital LLC. “Our extensive relationships allowed us to find a commercial bank with the ability to close within the required time frame with a sub 5% interest loan.”

The property is located minutes from top corporations in the area including Microsoft, Nokia, NEC, Verizon, Abbott Labs, and Cognizant. Nearby attractions including Irving Convention Center, Mandalay Canal Walk, Lego Land, West End Market, Lone Star Park, AT&T Stadium, Globe Life Park – home of the Texas Rangers, Six Flags over Texas, Hurricane Harbor in Arlington, Texas Motor Speedway and an array of shops and restaurants are only minutes away.

PMZ Realty Capital LLC is highly regarding within the hospitality industry for their integrity, creativity and advocacy on behalf of their clients. With over 75 years of combined experience, they are the industry experts and as such, are frequent contributors to industry publications and conferences. The firm approaches each assignment with passion, commitment and dedication to achieving the client’s objectives.

For more information about PMZ Realty Capital LLC or to contact the firm to finance your next hotel, contact Michael Sonnabend, Managing Member, PMZ Realty Capital LLC at (212) 277-8252.

About PMZ Realty Capital LLC
PMZ Realty Capital LLC is a boutique real estate investment banking firm that operates on a nationwide basis. Their advisory services are focused and highly specialized with the singular goal of creating the most advantageous capital structure for their clients. The firm focuses on debt and equity financing, note sales, joint ventures, recapitalizations and real estate advisory services. PMZ Realty Capital LLC is a national leader in hospitality financing and has an extensive transaction history with other asset classes, including office, retail, self-storage, multi-family and industrial properties.

I’ve completed a myriad of transactions over the past 10 years with Mike and Peter and their clients. Through the ups and downs of the real estate market cycle, they have consistently presented us with transactions that are attractive based on current market dynamics. Throughout the process from origination to closing they have been a strong advocate for their clients, and on more than one occasion, thought of an innovative solution to structure around significant issues. Their creative thinking has benefited their clients and made me confident that once we begin a transaction, it will lead to a successful closing.

Michael Amoia
Director, NY based insurance company