PMZ Realty Capital arranges $17M in financing for Spartanburg Marriott

PMZ Realty Capital, a national boutique real estate investment-banking firm focused on creating advantageous capital structures for their clients, arranged $17 million dollars in financing for the Spartanburg Marriott, which included a $14 million dollar loan plus a $3 million dollar mezzanine loan. The hotel has 240 rooms and seven suites and is located in downtown Spartanburg.  

“This is another positive phase in the repositioning of the hotel as an integral part of downtowns development momentum,” said Andrew Cajka, president of the Southern Hospitality Group. “PMZ was extremely professional and responsive in executed the financial process despite the complexity of the deal.”

“This property is highly valued in the area and offers unique meeting spaces coupled with the high standard of Marriott level of service guests have come to expect. By procuring funds through us, they will continue to excel at what they do best and continue to serve their community well,” said Peter Berk, president of PMZ Realty Capital’s hotel finance group. “We were able to couple together both junior and senior financing that worked together in order to achieve the client’s objectives.”

Virtual Event

HOTEL OPTIMIZATION PART 2 | Now Available On-Demand

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 Spartanburg Marriott, near Greenville, S.C., has more than 30,000 square feet of flexible event space including 27 events rooms, three boardrooms and the 11, 350 square foot Spartanburg Marriott Heritage Ballroom with space for 1,500 guests.

Suggested Articles

Lodging owners who have the appropriate resources and capital have an opportunity to renovate at an accelerated rate and at more competitive prices.

The £18.4 million fine stems from a data breach discovered after the company purchased Starwood Hotels & Resorts Worldwide.

The company's revenues declined from $560 million in the third quarter of 2019 to $337 million in the third quarter of 2020.