PMZ Realty Capital, LLC, a national boutique real estate investment banking firm focused on creating advantageous capital structures for its clients, has arranged a $10-million-dollar long term fixed-rate loan at a favorable rate for the Holiday Inn Express & Suites Meadowlands in Carlstadt, New Jersey with Money Center Bank.
“This loan was unique because it has no FF&E reserve being collected during the first six years,” stated Michael H. Sonnabend, managing member, PMZ Realty Capital. “We were able to work with a long-time client to help them achieve a mid-4-percent interest rate at advantageous terms.”
The 100-key property is located just 10 miles from Times Square in New York City and minutes from Hoboken, Secaucus and Newark. Travelers can enjoy local attractions including American Dream Meadowlands, Izod Center, MetLife Stadium and Meadowland Racetrack, all located within a couple of miles as well as shopping a quick drive away at the Garden State Plaza Shopping Mall and Secaucus Outlets.