10.28.19

PMZ Realty Capital LLC Arranges $29.0 Million Loan for The Holiday Inn Resort and The Beachview Club – Jekyll Island, Georgia

PMZ Realty Capital LLC, a boutique real estate investment banking firm,  arranged a $29.0 million  loan for  The Holiday Inn Resort  and The Beachview Club of Jekyll Island GA. PMZ Realty Capital specializes in hotel real estate investment banking nationwide, with an expertise in sourcing capital for the hospitality industry.

“With historically low rates, and an abundance of capital in the market, PMZ Realty Capital is strongly encouraging anyone sitting on the fence to review their current financing” commented Michael Sonnabend, Managing Member, PMZ Realty Capital LLC.   “In this situation, the owners were able to get cash back and increase cash flow due to a lower interest rate and longer amortization.” Sonnabend remarked, “This is a repeat engagement with this ownership group and we value our role as trusted advisors.”

The 157-key Holiday Inn Resort Jekyll Island is an oceanfront property that was acquired in 2013. The resort was fully gutted,  and then re-opened in 2015 with an affiliation with Holiday Inn Resorts. Modern amenities include fully renovated rooms, an oversized fitness center, coffee bar, outdoor bar and grill, new pool and play area for children.

The 38-key Beachview Club is adjacent to the Holiday Inn property and features oversized rooms that are steps away from the beach. After acquiring the property in 2017, the ownership group renovated the asset to create an upscale boutique beachfront hotel.

“Jekyll Island is a unique location where 65% of the island must remain undisturbed nature area by Georgia law” said Rick Patton, Managing Member, Georgia Coast Holdings. “The barrier islands of Georgia are truly a special area and PMZ presented us a list of options that allow us to secure very favorable financing even though the Beachview Club had just opened. By controlling our borrowing costs, we are able to invest in the guest experience and to provide a strong return for our investors.”

The Holiday Inn Resort Jekyll Island and the Beachview Club will be managed by North Pointe Hospitality.

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 Michael Sonnabend, Managing Member, PMZ Realty Capital LLC at (212) 277-8252.

About North Pointe Hospitality

North Pointe Hospitality LLC is an innovative hospitality management company, head quartered in Suwanee, Georgia. North Pointe was founded in 2005 to manage lodging assets for institutional investment groups, individual owners and lenders. North Pointe provides value by developing the highest caliber hospitality professionals, and through implementing proprietary tools and unique processes to create a comprehensive hospitality management system. North Pointe Hospitality currently manages seven hotels in Georgia and South Carolina. (www.northph.com).

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