PMZ Realty Capital, a national boutique real estate investment banking firm, arranged a $24-million fixed loan for The Spartanburg Marriott in Spartanburg, S.C. Local demand generators include six colleges in the downtown area and the BMW Performance Center along with many nearby restaurants.
The 240-room and seven-suite property is in the heart of Spartanburg, S.C., and offers over 30,000 square feet of meeting space. The hotel is designed to accommodate meetings, conferences, social events and wedding receptions of all sizes with its 27 event rooms, three boardrooms and 11,340-square-foot Heritage Ballroom capable of accommodating up to 1,500 guests.
“The fixed rate loan allowed the borrower to consolidate their overall financing package into a single loan with a long maturity,” said Peter Berk, president, PMZ Realty Capital.
The hotel also has on-site dining at the Sparks Fire-Inspired Grill, a contemporary bar and lounge and outdoor patio restaurant. Other amenities on property include a fitness center, outdoor pool and parking. Local attractions include outlet centers for shopping, the Chapman Cultural Center, hiking and biking trails and more.
Six golf courses are also located near the property: River Falls Plantation Golf Course, Woodfin Ridge, The Creek Golf Club, Village Greens Golf Club, Willow Creek and the Carolina Country Club.