PMZ Realty Capital LLC Obtains $35 Million Loan on Three Properties for Middletown Management


PMZ Realty Capital LLC, a boutique real estate investment banking firm, has secured a $35 million three hotel portfolio refinancing for Middletown Management. PMZ Realty Capital specializes in hotel real estate investment banking nationwide, with an expertise in sourcing capital for the hospitality industry.

“PMZ appreciates its role to successfully guide this transaction. The proceeds will allow for a complete Holiday Inn Express renovation and financing for new construction projects” commented Peter Berk, President of PMZ Realty Capital LLC. “Successful financing enables hotel owners to meet their business goals and we are thrilled for the Middletown Management team.”

The three properties refinanced are the 118-room Springhill Suites by Marriott in Beavercreek, Ohio, the 130-room Holiday Inn North Cincinnati in West Chester, Ohio and a 111-room Holiday Inn Express & Suites in Dayton, Ohio.

Deal highlights include:

Springhill Suites by Marriott – Beavercreek, Ohio

PMZ Realty Capital LLC obtained a 10-year, non-recourse CMBS loan with 30 year amortization for this hotel. “PMZ was instrumental in completing this assignment.  They presented us with several options and ultimately, we selected a lender that provided for the future stability of these hotels” stated Har Bhatnager, President and CEO, Middletown Management.

This 118-room Springhill Suites by Marriot is located in the Fairfield Commons Shopping complex which provides restaurant and entertainment options for business and leisure travelers.  The property is located near Wright-Patterson Air Force base, Wright State University and the University of Dayton. Major demand generators in the area drawing guests include Wright-Patterson Air Force Base, US Department of Defense, Lockheed Martin, General Dynamics, and Bae Systems.

Holiday Inn Cincinnati North – West Chester, Ohio

Working with lenders, PMZ Realty Capital assisted the hotel ownership to secure a 10-year, non-recourse CMBS loan with 30-year amortization for the Holiday Inn Cincinnati North.

“Middletown Management has chosen to work with PMZ since 2005“, remarked Berk. “Watching a client grow from three hotels to seven current properties with several more in the pipeline makes us happy for our client’s long term success.”

The 130-room property includes a Johnny’s Italian Steakhouse and over 20,000 sq. feet of flexible space plus an on-site wedding chapel.  Companies generating demand in the market include Honeywell, Champion Windows, General Electric, Proctor & Gamble and Manheim.

Holiday Inn Express & Suites – Dayton, Ohio

Opened in 2011, this 111-room property has received IHG’s most prestigious Torchbearer Award in 2013, 2014 and 2016.  “This financing allows for the renovation of this award winning property”, said Bhatnager, “PMZ was able to secure a fixed rate loan at an extremely attractive interest rate for Middletown Management.”

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 Middletown Management

Middletown Hotel Management Company, Inc. started in 1989 with a Howard Johnson hotel in Middletown, Ohio. Originally founded as Middletown Management by Har S. Bhatnagar, current president and CEO, the company has steadily grown to include multiple properties in Cincinnati, Dayton and Columbus.

PMZ has refinanced a substantial portion of our portfolio: 18 loans for both limited and select service hotels across four states, in excess of $200 million total in-debt financing. I always value PMZ’s insight into the current state of the financing market. They are always responsive, enthusiastic and have in depth knowledge of the financing markets. I am confident that PMZ would add value as financial consultants/brokers from their experience in the hospitality industry.

Hasmukh (H.P.) Rama
Auro Hotels (Formerly JHM Hotels), Chairman of the Board