NEW YORK CITY—PMZ Realty Capital, a national boutique real estate investment banking firm has procured a $138.5 million loan for TPI Hospitality. The loan includes financing for twelve hotels in the firm's portfolio, focusing on the Minneapolis and Florida markets.

“Financing for this portfolio was part of a recapitalization of their company as well as a conversion to an ESOP structure,” says Michael Sonnabend, managing member, PMZ Realty Capital. “We were able to deal with those complex challenges in a very efficient and timely matter which speaks well to our experience in working through any need of our client. The loan also reduced the company's overall borrowing cost while right sizing leverage so it will make a significant impact of the future growth of their company and enable the firm to take advantage of new opportunities.”

The financing included Marriott, Hilton, and IHG franchises in suburban Minneapolis in and a Staybridge Suites in Naples, Florida. The transaction was completed as a series of separate loans to maximize flexibility to our client and obtain the most advantageous loan terms. Several of the properties were subject to short-term franchise expirations and ground leases, which were all addressed as part of the financing.