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PMZ Realty Capital Arranges $17 Million in Financing for Spartanburg Marriott

Friday, February 28, 2014
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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 arranged $17 million dollars in financing for the Spartanburg Marriott, which included a $14 million dollar loan plus a $3 million dollar mezzanine loan. Considered a crown jewel of convention hotels in the Southeast, the hotel has 240 rooms and 7 suites and is conveniently located in the heart of downtown Spartanburg.

“This is another positive phase in the repositioning of the hotel as an integral part of downtowns development momentum,” said Andrew Cajka, President of the Southern Hospitality Group. “PMZ was extremely professional and responsive in executed the financial process despite the complexity of the deal.”

“This property is highly valued in the area and offers unique meeting spaces coupled with the high standard of Marriott level of service guests have come to expect. By procuring funds through us, they will continue to excel at what they do best and continue to serve their community well,” stated Peter Berk, President of PMZ Realty Capital’s hotel finance group. “We were able to couple together both junior and senior financing that worked together in order to achieve the client’s objectives.”

The Spartanburg Marriott, near Greenville, SC, prides itself on offering convenience, luxury, style, space and service needed for successful events in Spartanburg. Their state-of-the-art meeting space and professional event planning services set them apart from other local hotels as the ideal choice for the best meetings, conferences, social events, wedding receptions and other special events. The hotel offers stunning accommodations and more than 30,000 square feet of flexible event space including 27 events rooms, 3 boardrooms and the 11, 350 square foot Spartanburg Marriott Heritage Ballroom with space for 1,500 guests.

PMZ Realty Capital LLC is highly regarding 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.
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