NEW YORK—PMZ Realty Capital LLC announced that it arranged acquisition financing for the Holiday Inn & Suites Albuquerque Airport, located in Albuquerque, New Mexico. The $9 million acquisition loan was provided by a life insurance company and will allow the owner to complete the acquisition and a $3.5 million property improvement plan on the hotel.
“With the volatility of interest rates in today’s market, we looked at many different types of lenders to find an attractive deal with favorable terms,” said Peter Berk, president, PMZ Realty Capital. “Ultimately, we identified a life insurance company.”
The four-story 121-room Holiday Inn & Suites Albuquerque Airport is located near the Albuquerque International Support Airport, Albuquerque Convention Center, University of New Mexico, and Sandia Labs. Each guestroom comes with flat-screen TVs, a work desk with lamp, microwave, fridge, and complimentary WiFi. The hotel has an airport shuttle, an on-site business center, and a fitness center with an indoor heated pool.
With over 75 years of combined experience, PMZ Realty Capital is a contributor to industry publications and conferences.