NEW YORK – PMZ Realty Capital LLC, a national boutique real estate investment banking firm, has arranged a $12,000,000 non-recourse loan for the Hilton Garden Inn Albany, located in Albany, Georgia.
The 122-room property features an outdoor pool, fitness center, free WiFi, an onsite business center, and over 9,000 square feet of meeting space separated into five meeting rooms.
“This transaction enabled the borrower to pay off a fixed-rate CMBS loan that had reached its maturity date,” said Michael H. Sonnabend, managing member for PMZ Realty Capital. “This financing allowed them to refinance debt that was due and allowed them to reposition the asset to better performance prior to securing long-term financing, rather than taking a short-term extension offered by the special servicer.”
The Hilton Garden Inn Albany is located in the heart of the city, conveniently near the Albany Civic Center, Albany State University, and the Flint River Aquarium. Riverfront Park, home to the Ray Charles Plaza, is across the street, and the Southwest Georgia Regional Airport is approximately four miles from the property.
“We have closed multiple transactions with PMZ over the past five years,” said Rick Patton, principal of Rio Partners, LLC. “PMZ assists us with finding and securing the most advantageous finance options for our portfolio. We have worked with them on construction, acquisition, refinancing, and repositioning – regardless of our strategy for the property, they always have a way to help us maximize our value.”
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 frequent contributors to industry publications and conferences. The firm approaches each assignment with passion, commitment, and dedication to achieving the client’s objectives.