PMZ Realty Capital, a national boutique real estate investment banking firm, arranged a $19-million loan for the Holiday Inn Express Charleston Downtown – Ashley River in Charleston, S.C.
The 153-room property sits along the Ashley River in Downtown Charleston, S.C., adjacent to the Medical University of South Carolina and the WestEdge Charleston Development. Located minutes from Charleston’s Historic District, the property allows guests to benefit from its proximity to beaches, parks, restaurants, golf courses and Joe Riley Baseball Field, home of the Charleston Riverdogs.
“The owner used the proceeds from this transaction to refinance their existing debt and buy out their institutional partner,” Michael Sonnabend, founder & managing member, PMZ Realty Capital, said in a statement. “Our extensive relationships enabled us to achieve a phenomenal execution for the owner with an attractive fixed rate for five years representing 82 percent of the funds required with no origination fee.”
The hotel offers guests an outdoor pool, complimentary fitness room equipped with a treadmill, elliptical machine, recumbent bike, rowing machine, free weights, and yoga ball along with a daily breakfast buffet and free high-speed Wi-Fi.
PMZ Realty Capital is a boutique real estate investment-banking firm that operates on a nationwide basis. Its advisory services are focused on debt and equity financing, note sales, joint ventures, recapitalizations and real estate advisory services.