NEW YORK—PMZ Realty Capital LLC, a national boutique real estate investment banking firm focused on creating capital structures for its clients, has arranged a $7,100,000 non-recourse loan for Home2 Suites by Hilton Hilton Head in Hilton Head, South Carolina.
The 99-room property was opened in November 2018 and hadn’t fully stabilized prior to March 2020. PMZ’s client used the loan proceeds to refinance the original construction loan, which a private equity group had purchased from the bank that originally made the loan.
“Our relationships with a breadth of lenders allowed us to help our client refinance their original construction loan to a non-recourse loan despite the challenging market conditions existing today for hotel financing,” said Peter Berk, president, PMZ Realty Capital. “The strength of the Home2 Suites brand, along with the successful track record of the owner and the Hilton Head market made this transaction attractive to lenders.”
The Home2 Suites is located about 46 miles from Savannah International Airport, near Shelter Cove Harbour, Shelter Cove Community Park, Audubon Newhall Preserve, Heritage Library, and Sandbox Interactive Children’s Museum.
PMZ Realty Capital LLC is regarded within the hospitality industry for its integrity, creativity, and advocacy on behalf of its clients. With over 75 years of combined experience, they are the industry experts and, as such, are contributors to industry publications and conferences.