PMZ Realty arranges $5M loan for Florida Holiday Inn

Holiday Inn Express Venice, Fla.

PMZ Realty Capital arranged a $5 million non-recourse acquisition loan for the Holiday Inn Express Venice in Venice, Fla.
 
The 74-room hotel is located near St. Petersburg, Naples and Tampa directly off the Interstate and is right on on the 14-mile stretch of beach on the Gulf of Mexico.
 
"The borrower had a very tight time frame due to year end closing requirement of the seller," said Peter Berk, President, PMZ Realty Capital. "We worked with a large German Bank to secure financing for several properties, which included refinancing part of the portfolio as well as the acquisition of the Holiday Inn Express."