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301 Savannah Highway Charle...

Updated Nov 4, 2023

PMZ Realty Capital Facilitates $13.5M Acquisition Loan For Holiday Inn Charleston-Riverview
FINANCEDHotel

PMZ Realty Capital Facilitates $13.5M Acquisition Loan For Holiday Inn Charleston-Riverview

301 Savannah Highway Charleston, South Carolina 29407, USA

$13,500,000

Building Size

Asset Type

Hotel

Closing

Aug 9, 2023

About this deal

AI

The Holiday Inn Charleston-Riverview in Charleston, S.C. has recently undergone a leasehold acquisition financing deal facilitated by PMZ Realty Capital. The property, located at 301 Savannah Hwy, is a hotel with 157 keys. The acquisition loan secured for this transaction amounts to $13.5 million and comes from a regional bank.

Summary of transaction details

  • Property Type: Hotel
  • Transaction Amount: $13,500,000
  • Address: 301 Savannah Hwy, Charleston, SC
  • Market: Charleston, SC
  • BROKER: PMZ Realty Capital
  • LOAN TYPE: Acquisition

PMZ Realty Capital played a crucial role in securing the $13.5 million acquisition loan for the Holiday Inn Charleston-Riverview. As the broker in this leasehold acquisition financing deal, they successfully facilitated the transaction with a regional bank, enabling the acquisition of this prime hotel property.

Players

Charleston Hotel Market Snapshot

Boundary boundary · Hotel · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.18%

Cash-on-Cash

-0.34%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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