04.15.19

PMZ Realty Capital Arranges $11 Million Fixed Rate Loan for CMC Hotels

PMZ Realty Capital LLC, a boutique real estate investment banking firm, arranged an $11 million loan for CMC Hotels’ Marriott Fairfield Inn & Suites Raleigh Cary, NC. PMZ Realty Capital specializes in hotel real estate investment banking nationwide, with an expertise in sourcing capital.

“Securing great financing rates for hotel owners is crucial to reaching investment goals,” said Peter Berk, President, PMZ Realty Capital. “This financing allows CMC Hotels to continue their expansion plans in this fast growing region of the country.” In May of 2018, the U.S. Census Bureau issued a report showing that the Raleigh-Cary metro area saw an 18.1% increase in population from 2010 to 2017, the second highest growth rate in the United States.

This CMBS loan was a 10 year, non-recourse loan with 30-year amortization. Opened in Cary, North Carolina in 2017, the 108-room, five story hotel is located in a rapidly growing area near NC State University, Cary Towne Center and North Carolina State Fairgrounds.

“We have worked with PMZ for over 15 years and always value their market insight and guidance through the financing process,” said Shahn Chhabra, President, CMC Hotels. “PMZ obtained a great piece of long term debt on the Fairfield property. We are committed to North Carolina and this expanding region and this financing gives us the financial flexibility to focus on a new project in the future.”

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 highly specialized with the singular goal of creating the most advantageous capital structure for their clients. PMZ Realty Capital LLC is a national leader in hospitality financing focusing on debt and equity financing, note sales, joint ventures, recapitalizations and real estate advisory services.

For more information about PMZ Realty Capital LLC or to contact the firm to finance your next hotel, contact Peter Berk, President, PMZ Realty Capital LLC at (212) 277-8265.

About CMC Hotels

CMC is a privately owned hotel management firm established in 1985 with the development and construction of its first hotel, the Best Western Plus Cary- NC State which it still owns and operates today.

CMC Hotels manages asset exceeding $150 million in real estate value. The hotel portfolio includes top branded franchised hotels and more than 1,000 rooms in desirable markets such as Raleigh, Cary, Wilmington and Charlotte, North Carolina. CMC Hotels was acknowledged by Marriott International as a leader in franchised hotel operations with the prestigious Horizon award.

I initially called Peter and Mike several years ago when I was seeking refinancing of two of our properties in Pennsylvania. The lender we were working with at the time had changed the terms on us several times. I explained the situation to them, and they assured me that they would close at the same exact terms or better than originally quoted. Not only did they close at better terms then originally outlined, but they exhibited a sense of professionalism and integrity that every intermediary should possess. I have since worked with Peter and Mike on several other transactions, and their high level of service is consistent. I would recommend the PMZ without hesitation to anyone seeking financing.

Atul Patel
CEO, HMB Management, Allentown, PA