PMZ Realty Capital Secures First Ever CMBS Loan for Tru by Hilton


NEW YORK, NY – January 22, 2019 – PMZ Realty Capital LLC, a boutique real estate investment banking firm, has secured the first ever CMBS loan for Tru by Hilton property. PMZ Realty Capital specializes in hotel real estate investment banking nationwide, with an expertise in sourcing capital.

“PMZ Realty Capital is thrilled to complete the very first Tru by Hilton capital market transaction using a CMBS loan,” said Michael H. Sonnabend, Managing Member, PMZ Realty Capital. “The CMBS loan met RevPAR Development LLC’s strategic goals. Customer success is our main focus and by working closely with lenders, PMZ Realty Capital guided a successful outcome.”

This CMBS loan was a 10 year, non-recourse loan with 30-year amortization. Opened in McDonough, Georgia in 2017, the 90-room, the four story hotel had limited operating history and the challenge was convincing underwriters to do the cash out refinancing. Working with underwriters, PMZ Realty Capital offered guidance on the unique niche of the hotel, Hliton’s brand strength, and the operating capabilities of RevPAR Development LLC.

“This cash out financing is a boost for RevPAR Development LLC”, said Pete Patel, President & CEO RevPAR Development LLC. “This is our second transaction using PMZ Realty Capital in the last twelve months.  You quickly appreciate PMZ’s steady guidance, detailed process and proactive advocacy to complete the refinancing quickly. Completing this transaction allows RevPAR Development LLC to grow and to increase financial flexibility.”

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 RevPAR Development LLC
Since its inception in 1998, RevPAR Development LLC has grown to be one of the top privately owned hotel development/management companies on the East Coast. RevPAR Development LLC takes pride in providing superior service to our guests by nurturing and developing potential in our extraordinary team members. It is our mission to provide each guest service to the highest of standards and an overall exceptional experience.

When our company wanted to convert the Intercontinental Hotel on Central Park South in New York City into luxury residences, I knew who to call first. Within 30 days, Peter was able to secure an application for $110 million worth of financing. The loan included multiple layers of capital representing over 90% of the costs to complete the project. He coordinated multiple parties through the due diligence process in order to ensure a smooth closing. I have worked with Peter and Mike on several other deals as well and their service and dedication are consistently outstanding. PMZ Realty Capital is my financial intermediary of choice.

Steve Glascock
President, Anbau Enterprises