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PMZ Realty Capital Arranges $11 Million Fixed Rate Loan for CMC Hotels

Monday, April 15, 2019
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NEW YORK, NY--PMZ Realty Capital LLC, a boutique real estate investment banking firm, arranged an $11 million loan for CMC Hotels’ Marriott Fairfield Inn & Suites Raleigh Cary, NC. PMZ Realty Capital specializes in hotel real estate investment banking nationwide, with an expertise in sourcing capital.

“Securing great financing rates for hotel owners is crucial to reaching investment goals,” said Peter Berk, President, PMZ Realty Capital. “This financing allows CMC Hotels to continue their expansion plans in this fast growing region of the country.” In May of 2018, the U.S. Census Bureau issued a report showing that the Raleigh-Cary metro area saw an 18.1% increase in population from 2010 to 2017, the second highest growth rate in the United States.

This CMBS loan was a 10 year, non-recourse loan with 30-year amortization. Opened in Cary, North Carolina in 2017, the 108-room, five story hotel is located in a rapidly growing area near NC State University, Cary Towne Center and North Carolina State Fairgrounds.

“We have worked with PMZ for over 15 years and always value their market insight and guidance through the financing process,” said Shahn Chhabra, President, CMC Hotels. “PMZ obtained a great piece of long term debt on the Fairfield property. We are committed to North Carolina and this expanding region and this financing gives us the financial flexibility to focus on a new project in the future.”
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