PMZ Realty arranges $19.5M loan for future Hotel Indigo—Charleston

A rendering of the Hotel Indigo—Charleston. Photo credit: RBA Group

PMZ Realty Capital, a national boutique real estate investment banking firm, arranged a $19.5-million construction loan for the Hotel Indigo—Charleston located in Mount Pleasant, S.C.

The 158-room boutique hotel is scheduled to open later this year. The hotel will be designed with ties to the surrounding neighborhood and local experiences. It will be centrally located next to the Arthur Ravenel Jr. Bridge, the “Gateway to Historic Downtown Charleston,” and 4 miles away from the Charleston historic sites including The Market, King Street and The Battery, as well as Charleston’s restaurants and boutique shops. The hotel will also include an onsite restaurant and bar.

“Construction loans are becoming increasingly difficult to obtain as lenders are reducing their allocations for them. We’ve been consistently successful helping our clients obtain new construction financing regardless of market conditions,” Michael H. Sonnabend, managing member of PMZ Realty Capital, said in a statement. “Our relationships with a breadth of lenders allowed us to help our client, a longtime PMZ client, secure new construction financing. The strength of the Charleston—Mount Pleasant Market as well as the successful track record of the developer made this transaction attractive to lenders." 

Virtual Roundtable

Post COVID-19: The New Guest Experience

Join Hotel Management’s Elaine Simon for our latest roundtable—Post COVID-19: The New Guest Experience. The experts on the panel will share how to inspire guest confidence that hotels are safe and clean and how to win back guest business.

PMZ Realty Capital is a boutique real estate investment banking firm that operates on a nationwide basis. The firm focuses on debt and equity financing, note sales, joint ventures, recapitalizations and real estate advisory services.

Suggested Articles

Gross operating profit per available room dropped to -$17.98 while total RevPAR dropped 92.9 percent to $17.39 for the month.

As businesses plan their back-to-work strategies, implementing a safe workplace is at the top of every executive’s mind.

The program provides enhanced processes and procedures including physical-distancing guidelines and heightened cleanliness standards.