08.23.16

PMZ Realty Capital Arranges $71 Million Loan for Hotel Portfolio

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 $71 million loan to refinance a four property Hilton portfolio.

The portfolio includes the 140-room Hilton Garden Inn Ridgefield Park in Ridgefield Park, NJ; 125-room Hampton Inn & Suites, Kissimmee, FL; 150-room Embassy Suites, Palmdale, CA; and 192-suite Homewood Suites by Hilton, Nashville, TN.

The proceeds will be used by the borrower to repay the First Mortgage and Mezzanine debt that has matured as well as fund upcoming CAPEX improvements throughout the portfolio.

“The borrower had a very tight time frame due to the loans maturing,” stated Michael Sonnabend, Managing Member, PMZ Realty Capital LLC. “We work with clients to ensure they get their loan done within their timeframe at the most favorable market execution regardless of where we are in any given cycle.”

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.

I’ve had the opportunity to complete a dozen debt and equity transactions with Mike and Peter over the past ten years and value their financial and business insight. They bring innovative ideas and fresh thinking to each of their deals, and helped structure both debt and joint venture transactions that exceeded our expectations. Above all, we respect them and their firm as trustworthy advisors who are focused on their clients and their needs.

Ashish Parikh
Chief Financial Officer, Hersha Hospitality Trust