PMZ Realty Capital, a national boutique real estate investment banking firm, has arranged a $10-million non-recourse loan for the Hampton Inn & Suites in Jacksonville, Fla. The loan has a low fixed interest rate for 10 years and the closing was completed within 30 days to pay off the existing loan.
“This non-recourse loan offers our client the ability to leverage their cash flow in a positive way and refinance their loan with more advantageous terms,” Peter Berk, president of PMZ Realty Capital-Hotel Finance Group, said in a statement. “PMZ was able to negotiate this deal...and secure a low fixed interest rate over the span of 10 years,” Berk added, noting the short timeframe for the deal.
The Hampton Inn & Suites Jacksonville South has five floors, 103 guest rooms, and 29 suites, and is located close to Jacksonville Beach and Ponte Vedra beach, home to the PGA Tour’s THE PLAYERS Championship.