PMZ Realty Capital, LLC, a national boutique real estate investment banking firm focused on creating advantageous capital structures for its clients, has announced it has arranged a $11.9 million acquisition loan for the TownePlace Suites by Marriott Las Colinas, Irving, Texas.
The 135-suite property offers guests a choice of studio, one- and two-bedroom suites with fully equipped kitchens and free grocery delivery. The hotel features complimentary breakfast buffet, fitness center with free weights and cardio machines and outdoor pool along with one room of meeting space totaling 340 square feet.
“The buyer needed to ensure closing happened in thirty days and that included Christmas and New Year’s in the middle, of that period,” said Peter Berk, President, PMZ Realty Capital LLC. “Our extensive relationships allowed us to find a commercial bank with the ability to close within the required time frame with a sub 5 per cent interest loan.”
The property is located minutes from top corporations in the area including Microsoft, Nokia, NEC, Verizon, Abbott Labs, and Cognizant. Nearby attractions including Irving Convention Center, Mandalay Canal Walk, Lego Land, West End Market, Lone Star Park, AT&T Stadium, Globe Life Park – home of the Texas Rangers, Six Flags over Texas, Hurricane Harbor in Arlington, Texas Motor Speedway and an array of shops and restaurants are only minutes away.
PMZ Realty Capital LLC is highly regarding within the hospitality industry for their integrity, creativity and advocacy on behalf of their 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.