NEW YORK, New York—PMZ Realty Capital LLC announced that it has closed over $40 million 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:
- $11.3 million refinance loan of the Hilton Garden Inn Bel Air, located in Bel Air, Maryland, 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.
- $10.8 million loan of the Hampton Inn Hammond, located in Hammond, Louisiana, 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.
- $19 million loan to refinance the dual-branded Four Points and Fairfield Inn & Suites Amarillo, located in Amarillo, Texas, with a CMBS lender. The loan allowed the borrower to pay off a higher-cost bridge lender with low-cost fixed-rate debt.
