PMZ Realty Capital arranges $28M loan for the Radisson Oakland Airport

PMZ Realty Capital, a national boutique real estate investment banking firm, arranged a $28-million bridge loan for the Radisson Oakland Airport, Oakland, Calif.

The newly re-opened 270-room full-service property offers guest modern accommodations including refrigerators and microwaves along with complimentary Wi-Fi, a work desk and ergonomic chair for business and leisure travelers. Each room also has a plush bed with a 50-inch flat screen TV along with free HBO. The bathrooms offer shower/tub combinations, a hairdryer and lighted vanity mirror.

"The property had been closed for several years and was re-opened in January following a complete renovation. We needed a lender that would recognize the attractive basis of the transaction,” Michael Sonnabend, managing member, PMZ Realty Capital, said in a statement. “Our extensive relationships enabled us to explain the story and achieve a phenomenal execution for the owner with an attractive floating rate pricing over Libor representing 99 percent of the total project cost.”

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The property is located steps from the Oracle Arena and O.co Coliseum, and a two-mile drive from the Oakland International Airport. The hotel is located off Interstate I-880, and a short walk from the Coliseum BART station and offers easy access to Downtown San Francisco, Silicon Valley and all the Bay Area. Other hotel amenities include a pool, fitness center, airport shuttle, onsite restaurant and a business center. 

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