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

(PMZ Realty Capital) 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." 

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Survival in these times is highly dependent on a hotel's ability to quickly adapt and pivot their business to meet the current needs of travelers and the surrounding community. Join us for Optimization Part 2 – a FREE virtual event – as we bring together top players in the industry to discuss alternative uses when occupancy is down, ways to boost F&B revenue, how to help your staff adjust to new challenges and more, in a series of panels focused on how you can regain profitability during this crisis.

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.

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