PMZ Realty Provides $8.7M in Financing for GA SpringHill Suites
Wednesday July 9th, 2014 - 9:48AM H
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NEWNAN, GA—PMZ Realty Capital LLC, a national boutique real estate investment-banking firm, has closed an $8.7 million financing deal for the SpringHill Suites by Marriott here.
The specific terms include a 10-year, non-recourse loan from a money center bank. The SpringHill Suites by Marriott Newnan is the only all-suite hotel here and is located near the Hartsfield-Jackson Atlanta International Airport, as well as downtown Atlanta.
“Even though we purchased the property only a little over a year ago, the loan secured by PMZ will allow us to have financing for 70% of the current value of the hotel,” stated Pete Patel of the ownership group.
Tags: PMZ • financing • SpringHill Suites • Hospitality • Ownership •
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