NEW YORK—PMZ Realty Capital LLC announced it closed over $100 million in financing during the third quarter of 2022.
Some of the transactions closed include:
- 78-room Courtyard by Marriott Binghamton, located in Vestal, New York
- 159-room Hilton Garden Inn Columbus – University Area, located in Columbus, Ohio
- 103- room Hampton Inn by Hilton Bowie, located in Bowie, Maryland
- 150-room Delta by Marriott Jacksonville, located in Jacksonville, Florida
- Home2Suites Monaca Pennsylvania
- Hyatt Place Fort Lee/George Washington Bridge, located in Fort Lee, New Jersey
“Despite the changes in the market fundamentals and the anticipated continued interest rate increases by the Federal Reserve, PMZ has been able to use its relationships with a variety of capital partners to help its clients navigate the changing financial environment,” said Peter Berk, president, PMZ Realty Realty Capital LLC—Hotel Finance Group. “Lenders are still active and looking for properties with strong sponsors and demand generators. The Hilton Garden Inn Columbus and Courtyard Binghamton are both examples of hotels recovering from the pandemic. Both located near college campuses that have resumed in-person classes and athletics, the hotels are returning to pre-pandemic performance.”
“PMZ works with various lenders and investors, including life insurance companies, pension fund advisors, capital market participants, debt funds, credit unions, and banks to ensure its clients can efficiently secure their capital needs in today’s challenging environment,” said Michael Sonnabend, CEO, PMZ Realty Capital, LLC. “With local banks shrinking their hospitality portfolios, we are seeing clients look to us on deals that no longer have interest from their typical lenders.”
With over 75 years of combined experience, PMZ Realty Capital LLC has industry experts who are frequent contributors to the industry.