PMZ Realty Capital closes $32M loan on three-hotel portfolio

The Hyatt Place Airport North in Atlanta. Photo credit: Hyatt Hotels Corporation

PMZ Realty Capital, a national boutique real estate investment banking firm, closed a $32-million, fixed-rate loan to refinance a three-property portfolio in Georgia.

The portfolio comprises the 150-room Hyatt Place Airport North in Atlanta; the 132-room Hampton Inn Atlanta/Norcross in Norcross, Ga.; and the 80-room Fairfield Inn & Suites in Commerce, Ga.

“The borrower turned to PMZ as their advisor for this complex refinancing as one of the properties was less than two years old, and another was acquired a year ago,” Michael H. Sonnabend, managing member of PMZ Realty Capital, said in a statement. “We were able to help them secure a loan at a fixed rate below 4.85 percent for 10 years that gave them the ability to take cash out of the deal.”

Virtual Event

Hotel Optimization Part 3 | January 27, 2021

With 2020 behind us and widespread vaccine distribution on the horizon, the second half of the new year is looking up, but for Q1 (and most likely well into Q2) we’re very much still in the thick of what has undeniably been the lowest point of the pandemic. What can you be doing now to power through and set yourself up for a prosperous 2021 and beyond? Join us at Part 3 of Hotel Optimization – A Virtual Event on January 27 from 10am – 1:05pm ET for expert panels focused on getting you back to profitability.


“This was a complicated deal with a lot of moving parts. We benefited from PMZ’s process, attention to detail and proactive culture,” Paul Patel, president, Elite Hotel Management Group, said in a statement. “PMZ exceeded our expectations, and we look forward to working with them again as we continue to grow our hotel portfolio.”