09.05.19

PMZ Realty Capital LLC Arranges $19 Million Loan on Two Properties for Georgia based PeachState Hospitality

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PMZ Realty Capital LLC, a boutique real estate investment banking firm, has secured $19 million of loans for two Marriott branded hotels in the PeachState Hospitality portfolio. PMZ Realty Capital specializes in hotel real estate investment banking nationwide.

“PMZ presented PeachState with financing options that allowed them to recapture invested equity to use for future development projects” commented Peter Berk, President of PMZ Realty Capital LLC. “The hotel financing market is still very active and rates remain historically low for the right deals and sponsors. These deals represent almost $50 million in hotel financing that PMZ has completed for PeachState over the last 24 months.”

The two properties refinanced are the 106-room Courtyard by Marriott in Warner Robbins, GA and the 80-room TownePlace Suites in Albany, GA.

Deal highlights include:

Courtyard by Marriott – Warner Robbins, GA

PMZ Realty Capital LLC arranged a 10-year, non-recourse CMBS loan with 30 year amortization for the Courtyard. “PMZ and PeachState have worked together on many deals over the years.  These hotels are important assets in our portfolio.  By establishing permanent financing on these hotels, PeachState can continue to execute our strategic growth plan that we mobilized in 2016.” stated Danny Patel, CEO, PeachState Hospitality.

Warner Robbins was ranked by Forbes as the #33 Best Small Places for Business. The metro area has a low cost of living, steady growth and low unemployment. This 106-room Courtyard by Marriot is located near Robins Air Force Base.  Major demand generators drawing guests include Houston Healthcare, Northrup Grumman, Boeing, Frito Lay and Purdue Farms.

TownePlace Suites by Marriott – Albany, GA

The TownePlace Suites also secured a fixed rate 10-year, non-recourse CMBS loan with 30-year amortization. “This financing allows PeachState to continue moving towards the company we want to be”, said Mr. Patel, “PMZ was our partner in securing this financing. The right financing is an important contributor that allows us to deliver returns for our investors. That in turn allows PeachState to focus on building a strong team culture so we can provide the best guest experience.”

“PeachState Hospitality is one of those remarkable stories“, remarked Berk. “Hard work, vision and a willingness to grow allow them to push the company to the next level of hotel ownership groups.”

The 80-room property was completed in 2018 with modern amenities including charging stations for Teslas and electric vehicles. Companies generating demand in the market include Albany State University, Proctor & Gamble, and Miller/Coors Brewing Company.

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 PeachState Hospitality

With over twenty-five years of experience, the PeachState Hospitality team has significant experience in all aspects of the hospitality industry, including acquisitions, dispositions, renovations, finance, construction, planning, development, design, accounting, cost control, and management. These industry strengths are upheld through continuous recruitment and training, which maintains the highest level of customer service and team member development. PeachState Hospitality currently operates 15 hotels with 5 hotels currently under development.

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