PMZ Realty Capital, a national boutique real estate investment banking firm, arranged a $15-million loan for The Partridge Inn Augusta, Curio Collection by Hilton in Augusta, Ga.
The 110-year old “Grand Hotel of the Classic South” recently completed an extensive restoration to modernize the property while preserving the original 1836 house, which remains encompassed within the building. The property has high ceilings, classic décor, state-of-the-art amenities along with Wi-Fi, 42-inch TVs and personalized, ergonomic work stations.
“The borrower was looking to retire expensive recourse debt and preferred equity after an extensive renovation,” said Michael Sonnabend, managing member, PMZ Realty Capital. “This property is extremely unique based on its location in Augusta, Georgia, known worldwide for the Masters. This along with the property being the top performing hotel in the area allowed us to negotiate a non-recourse bank loan with a rate below 5 percent for 10 years.”
The Partridge Inn is in the district of Summerville with downtown Augusta, the medical and education community along with Fort Gordon and shopping minutes away. The property is less than 2 miles from Daniel Field Private Airport, and 10 miles from Augusta Regional Airport.
Georgia’s second oldest city is known worldwide for the Masters, and golfers will find several courses in the area along with the Augusta Riverwalk, home of the Jesse Norman Amphitheatre, museums, restaurants and a children’s park.