PMZ Realty arranges $19M loan for the Holiday Inn Jekyll Island

PMZ Realty Capital arranged a $19-million non-recourse loan funded by the NASA Credit Union for the Holiday Inn Resort Jekyll Island, Jekyll Island, Ga.

“This property was unique to finance since it had only a three month operating history and is situated on a ground lease,” said Michael H. Sonnabend, Managing Member, PMZ Realty Capital. “Our client utilized the financing to pay off their high cost bridge loan and preferred equity without waiting for the property to stabilize. The lender was comfortable to make the loan based on the value created by the borrower’s gut renovation of the asset”

Virtual Event

HOTEL OPTIMIZATION PART 2 | SEPTEMBER 10 & 24, 2020

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.


The 251-room resort is located 1.5 miles from the Jekyll Island Convention Center. The property is situated on over a quarter mile of oceanfront.

 

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