04.13.16

PMZ Realty Capital Arranges $14 Million First Mortgage Loan for Hampton Inn Seattle Airport

PMZ Realty Capital, LLC, a national boutique real estate investment banking firm focused on creating advantageous capital structures for its clients, announced today the closing of a $14 million 10-year term first mortgage loan for the Hampton Inn SeaTac, Seattle Washington.

The 130 room property is located eight blocks from Seattle-Tacoma International Airport and offers convenient access to the light rail and area businesses. The famous Space Needle and Pike Place Market are only fifteen miles away in downtown Seattle. Guests can explore EMP, an interactive music museum with artifacts from acts who originated from the Pacific Northwest including Bing Crosby, Heart, Jimi Hendrix, Pearl Jam and Nirvana. Across from the hotel, Angel Lake Park offers a swimming area, kids play area and a short jogging trail.

“The property is a stabilized market leader that consistently achieves a 105% RevPAR index. Despite the CMBS market volatility, the loan closed as stated in the original loan application. The owner utilized the loan proceeds for renovating the property and took out a significant amount of cash,” stated Michael H. Sonnabend, Managing Member, PMZ Realty Capital LLC. “We are working on numerous hotel loans across the United States right now and expect to see higher interest rates as the year progresses, but our longstanding relationships with the lending community allow us to help our clients with well performing assets to get the financing they require, no matter the market conditions.”

PMZ Realty Capital LLC’s professionals are highly regarded 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 H. 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 also has an extensive transaction history with other asset classes, including office, retail, self-storage, multi-family and industrial properties.

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