10.02.14

PMZ Realty Capital LLC Closes $94.6 Million High Leverage Acquisition Loan

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PMZ Realty Capital LLC, a national boutique real estate investment-banking firm focused on creating advantageous capital structures for their clients, announced today they have closed a $94,650,000 high leverage loan. The loan represents 85% of the total costs necessary to acquire and renovate a portfolio of eight hotels in New Jersey and Pennsylvania representing 934 keys. The total interest rate for the transaction was approximately 5.50%.

The portfolio of hotels included in the loan are the Courtyard by Marriott in Westhampton, New Jersey; Fairfield Inn & Suites in Mount Laurel, New Jersey; Fairfield Inn Exton, Pennsylvania; Hampton Inn in Denville, New Jersey; Hampton Inn in Mount Laurel, New Jersey, Springhill Suites in Voorhees, New Jersey, Wingate by Wyndham in Voorhees, New Jersey; and the Comfort Inn in Philadelphia, Pennsylvania.

“The properties were acquired by a Texas based hotel company looking to expand their geographic footprint. The location of these particular hotels all lie on the East Coast, which allows the owner to break into an entirely new part of the country that has high barriers to entry,” stated Peter Berk, President, PMZ Realty Capital-Hotel Finance Group. “The complex transaction involved both first mortgage financing and three layers of mezzanine financing, which ultimately got the owner significant financial leverage at very attractive rates.”

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 Peter Berk, President, PMZ Realty Capital LLC at (212) 277-8265.

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 completed a myriad of transactions over the past 10 years with Mike and Peter and their clients. Through the ups and downs of the real estate market cycle, they have consistently presented us with transactions that are attractive based on current market dynamics. Throughout the process from origination to closing they have been a strong advocate for their clients, and on more than one occasion, thought of an innovative solution to structure around significant issues. Their creative thinking has benefited their clients and made me confident that once we begin a transaction, it will lead to a successful closing.

Michael Amoia
Director, NY based insurance company