06.02.16

PMZ Realty Capital Arranges $38 Million Loan for Hotel Portfolio

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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 $38 million loan to refinance a four property Marriott and Starwood portfolio in Virginia.

The portfolio includes the 136-room Aloft Chesapeake, 148-room Fairfield Inn & Suites by Marriott Williamsburg, 131-room SpringHill Suites by Marriott, and 121-room Residence Inn by Marriott Chesapeake Greenbrier.

The proceeds will be used by the borrower to retire existing debt and help recapitalize the company for future development and acquisition opportunities.

“With the CMBS market starting to stabilize, PMZ was able to help the borrower refinance this portfolio within 45 days from the time the loan application was signed in order to meet the loan maturity date,” stated Peter Berk, President, PMZ Realty Capital LLC – Hotel Finance Group. “We continue to help our clients actively seek permanent, bridge and mezzanine loan opportunities for hotel in the United States.”

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 also has an extensive transaction history with other asset classes, including office, retail, self-storage, multi-family and industrial properties.

When our company wanted to convert the Intercontinental Hotel on Central Park South in New York City into luxury residences, I knew who to call first. Within 30 days, Peter was able to secure an application for $110 million worth of financing. The loan included multiple layers of capital representing over 90% of the costs to complete the project. He coordinated multiple parties through the due diligence process in order to ensure a smooth closing. I have worked with Peter and Mike on several other deals as well and their service and dedication are consistently outstanding. PMZ Realty Capital is my financial intermediary of choice.

Steve Glascock
President, Anbau Enterprises