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Investment Services Shop Opens Its Doors

NEW YORK CITY-With more than 40 years' combined experience, the principals of PM Realty Capital are focusing on the middle market.

By Paul Bubny | Updated on July 29, 2009

NEW YORK CITY-Commercial veterans Peter Berk and Michael Sonnabend, both formerly with AFC Realty Capital, have set up shop with PM Realty Capital LLC and its subsidiary PM Hotel Finance Group. The real estate investment banking services firm, announced Tuesday, has been doing deals since the beginning of the month, Sonnabend tells GlobeSt.com.

The partners have more than 40 years’ combined experience. “We’ve seen markets go up and down,” Sonnabend says. “Things may not have been as down as they are now for a long time, but the important part is that we have experience in getting deals done and we’re focused on working with our clients on what they can realistically accomplish in this environment.” He adds that while some of these deals have focused on acquisitions and construction loans, “for the most part, we’re focused on existing properties.”

PM’s primary emphasis is on the middle market, with transactions that need between $5 million and $50 million in financing and a “sweet spot” of around $20 million, says Sonnabend. “The key, as always, is to find the right checkbook for the right deal.”

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