PMZ Realty Capital LLC, a national boutique real estate investment banking firm focused on creating advantageous capital structures for its clients,
announced today they have arranged a $40M refinancing loan for the Hilton Garden Inn Atlanta Downtown in Atlanta, Georgia. A European bank provided the five-year interest-only loan, and the borrower, Legacy Ventures, will be using the part proceeds to pay off the existing debt and contribute to reserves for a future property improvement plan (PIP).
“This was our sixth transaction with PMZ, representing over $250 million of financing for our Atlanta Hotel portfolio,” said David Marvin, CEO, Legacy Ventures. “PMZ always provides us with multiple lending options to choose from and helps us select the most appropriate one. In times of financial uncertainty in the markets, we value their input more than ever.”
The 242-room Hilton Garden Inn Atlanta Downtown features an indoor pool, outdoor pool, fitness center, business center, and over 11,283 square feet of meeting space. Being located in Centennial Olympic Park District within a half-mile of State Farm Arena, World of Coca-Cola, the College Football Hall of Fame, Georgia Aquarium, Peachtree Center, Georgia State University, and George World Congress allows guests access to some of the key attractions the area has to offer.
“Despite the rise in interest rates, our debt platform continues to find interest from lenders seeking to invest in high-quality assets with strong sponsorship,” said Peter Berk, President, PMZ Realty Capital LLC – Hotel Finance Group. “The Hilton Garden Inn perfectly aligns with this criterion and received multiple competitive bids from lenders for both fixed and floating rates.”
PMZ Realty Capital LLC is highly regarded within the hospitality industry for its integrity, creativity, and advocacy on behalf of its clients. With over 75 years of combined experience, they are the industry experts and, as such, are frequent contributors to industry publications and conferences. The firm approaches each assignment with passion, commitment, and dedication to achieving the client’s objectives.
