NEW YORK—National boutique real estate investment banking firm PMZ Realty Capital LLC has arranged a $10-million non-recourse loan for the Hampton Inn & Suites in Jacksonville, FL. The loan has a low fixed interest rate for a period of 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 its cash flow in a positive way and refinance its loan with more advantageous terms,” stated Peter Berk, president, PMZ Realty Capital-Hotel Finance Group. “PMZ was able to negotiate this deal with the client’s best interest in mind and secure a low fixed interest rate over the span of 10 years. We were also able to move quickly and efficiently during the short close time period and that speaks highly to the experience we have in the market and with these types of deals.”
The Hampton Inn & Suites Jacksonville South is a located in close proximity to Jacksonville Beach and Ponte Vedra beach, which is home to the PGA Tour’s Players Championship. Featuring five floors of 103 guestrooms with 29 suites, the hotel offers large work spaces, high-speed Internet access and signature Serta Cloud Nine beds. Nearby the hotel is a variety of shops, restaurants and outdoor activities such as the World Golf Village and the St. John’s Town Center.