PMZ Realty Capital LLC, a national boutique real estate investment-banking firm focused on creating advantageous capital structure for their clients, reported they have closed an $8.7 million financing deal for the SpringHill Suites by Marriott Newnan, Georgia. The specific terms include a 10 year non recourse loan from a money center bank. As the only all-suite hotel in Newnan, the property boasts 25% more space than comparably priced hotel rooms and a top notch experience for guests.
“Even though we purchased the property only a little over a year ago, the loan secured by PMZ will allow us to have financing for 70% of the current value of the hotel,” said Pete Patel, of the ownership group. “PMZ was incredibly easy to work with and delivered on what they promised us. They made the whole process painless and were able to meet a very aggressive timetable. The deal arranged by PMZ will allow us to continue to do great things with the hotel and have the capability to increase our value offering.”
“This deal was especially attractive because the terms we obtained allowed our client to recoup their investment plus some,” says Michael Sonnabend, Managing Member, PMZ Realty Capital LLC. “The hotel is on course to continue growing its market share with the backing of favorable financing and an existing respected reputation. SpringHill Suites by Marriott Newnan will continue to serve their historic neighborhood and surrounding areas with style and panache.”
The SpringHill Suites by Marriott Newnan is conveniently located near the Hartsfield-Jackson Atlanta International Airport, as well as downtown Atlanta. It is also a short drive to Peachtree City in Fayette County, which is home to the area’s largest sporting venues. Guests can enjoy access to the Atlanta Motor Speedway and the property prides itself on being fan-friendly for annual NASCAR events. The suites feature luxurious upgraded bedding, separate living and sleeping areas, a complimentary breakfast for guests and other ample amenities. The category three hotel is also highly recommended for Cancer Treatment Centers of America.
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 Michael Sonnabend, Managing Member, PMZ Realty Capital LLC at (212) 277-8252.
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