NEW YORK—PMZ Realty Capital LLC announced that it arranged leasehold acquisition financing for the Holiday Inn Charleston-Riverview located in Charleston, South Carolina. A regional bank provided the $13.5 million acquisition loan for the property.
“PMZ evaluates every single deal to determine what type of lender to approach for the project,” said Michael Sonnabend, co-CEO, PMZ Realty Capital. “Having done over ten deals with this sponsor and having a relationship with the regional bank allowed us to secure favorable terms and get the deal done within current market conditions.”
The 14-story, 157-room Holiday Inn Charleston-Riverview is located off Savannah Highway and overlooks the Ashley River. The property is three miles from the Charleston Cruise Terminal and ten miles from Charleston International Airport. Nearby are the South Carolina Aquarium, Fort Sumter, Magnolia Plantation and Gardens, Charleston City Market, and the USS York Town. The Holiday Inn Charleston-Riverview provides amenities including an outdoor pool, 1,200 square feet of meeting space, a newly renovated fitness center, a 24-hour business center, and the onsite Harborview Restaurant located on the 14th floor.
