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 Roundtable

Post COVID-19: The New Guest Experience

Join Hotel Management’s Elaine Simon for our latest roundtable—Post COVID-19: The New Guest Experience. The experts on the panel will share how to inspire guest confidence that hotels are safe and clean and how to win back guest business.

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

Demand came in 67,000 rooms lower during the week ended July 4 than the previous week, according to Jan Freitag, STR’s SVP of lodging insights.

Two recent cases address the issue of hotel liability when personnel assist police who have an issue with a guest—here's the lesson for hotels.

The Buccini/Pollin Group has a longstanding connection to the Baltimore region, opening its first hotel in the area in 1997.