04.11.17

PMZ Realty Capital Arranges $28 Million Bridge Loan for Radisson Oakland Airport

PMZ Realty Capital, LLC, a national boutique real estate investment banking firm focused on creating advantageous capital structures for its clients, announced today it arranged a $28,000,000 bridge loan for the Radisson Oakland Airport, Oakland, California.

The newly re-opened 270-room full-service property offers guest modern ultra-chic accommodations featuring refrigerators and microwaves along with complimentary Wi-Fi, a work desk and ergonomic chair making this the perfect property for business and leisure travelers alike. Each room features a plush bed with a 50-inch flat screen TV along with free HBO. The bathrooms offer shower/tub combinations, a hairdryer, and lighted vanity mirror.

“The property had been closed for several years and was re-opened in January following a complete renovation. We needed a lender that would recognize the attractive basis of the transaction,” said Michael Sonnabend, Managing Member, PMZ Realty Capital LLC. “Our extensive relationships enabled us to explain the story and achieve a phenomenal execution for the owner with an attractive floating rate pricing over Libor representing 99% of the total project cost.”

The property is located steps from the Oracle Arena and O.co Coliseum and a short 2-mile drive from the Oakland International Airport. The hotel is located off Interstate I-880 and a short walk from the Coliseum BART station and offers easy access to Downtown San Francisco, Silicon Valley, and all the Bay Area.

PMZ Realty Capital LLC is 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 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.

Our firm currently operates over 75 hotels and restaurants in the upper midwest. When we wanted to arrange financing for eight of our limited and full service hotels in Iowa and Kansas, we started working with Peter after he was highly recommended by several of my peers. He did not disappoint us. He understood our unique local markets and secured $60 million from a national insurance company. We have since engaged his firm several other times to arrange financing for us. There is no doubt in my mind that the professionalism and knowledge of PMZ will benefit anyone looking to finance or refinance hotels.

Bruce Kinseth
Executive Vice President, Kinseth Hospitality Companies