NEW YORK — PMZ Realty Capital LLC, a national boutique real estate investment banking firm focused on creating advantageous capital structures for its clients, has arranged an acquisition loan for the La Quinta Inn by Wyndham El Paso – Airport located in El Paso, Texas.
The 121-room La Quinta Inn by Wyndham has an outdoor pool, free WiFi, an onsite business center, and complimentary breakfast. Guestrooms include a coffee pot, desk, ironing amenities, and flat-screen television.
“This transaction represented 70 percent of the purchase price of the asset from a regional Texas bank and allowed the buyer to close within 30 days,” said Peter Berk, president, PMZ Realty Capital. “We were happy to help Borra Hotel Group secure the financing they needed on our first transaction together and look forward to continuing to work with them as they grow their Texas portfolio.”
The La Quinta Inn by Wyndham is located off I-10, three miles from the El Paso Airport. Guests have access to the El Paso Museum of Art, high-desert mountains in Franklin Mountains State Park, and the Don Haskins Center. The property will be managed by Grapevine, Texas-based DePalma Hotels and Resorts.
“Getting this loan closed in the middle of a global pandemic on our short timeline was not an easy feat,” said Jagan Reddy Borra, president Borra Hotel Group. “PMZ assured us they were able to get it done within our time frame and helped us get favorable terms, and the deal closed before the end of the year, exactly as promised.”
