PMZ Realty Capital LLC, a national boutique real estate investment banking firm, has closed more than $40 million in financing in recent weeks.
“Our ability to secure hospitality loans for our clients is a testament to the resilience of the hospitality sector, even amidst high-interest rates,” said Peter Berk, president, PMZ Realty Capital LLC – Hotel Finance Group. “Our industry remains vibrant and bustling with activity. There is a strong sense of optimism in the economy, anticipating the Fed lowering interest rates in September. This outlook reinforces the perception of hotels as a safer asset class for lenders, underscoring the sector’s potential for stable, long-term growth.”
Some of PMZ’s recent closings include:
- An $11.3-million refinance loan of the Hilton Garden Inn Bel Air in Bel Air, MD, was funded by a bridge lender to refinance an existing loan that was coming due from a local bank. The loan was funded within 30 days of the application being signed.
- A $10.8-million loan for the Hampton Inn Hammond in Hammond, LA, funded by a debt fund that allowed the borrower to cash out additional proceeds for a new project and lower their overall cost of capital.
- A $19-million loan will be used to refinance the dual-branded Four Points and Fairfield Inn & Suites Amarillo in Amarillo, TX, with a CMBS lender. The loan allowed the borrower to pay off a higher-cost bridge lender with low-cost fixed-rate debt.