Courtyard by Marriott Austin – University Area in Austin, Texas Receives $20.75M in Acquisition Financing

Courtyard by Marriott Austin - University Area - Exterior

  Courtyard by Marriott Austin – University Area

PMZ Realty Capital LLC  announced today that it arranged acquisition financing for the Courtyard by Marriott Austin – University Area located in Austin, Texas. The $20.75M non-recourse acquisition loan with a flexible floating rate priced over SOFR was provided by a portfolio lender to cover 73% of the overall total project costs.

“While local banks were the main source of financing for many hoteliers prior to the pandemic, they are finding that is not the case in today’s market,” said Michael Sonnabend, Managing Member, PMZ Realty Capital. “PMZ bring deals to a variety of lenders looking to finance deals on a nationwide basis. Since this was our sixth transaction with this sponsor, we were able to secure them favorable terms and get the deal done within their timeframe.”

The nine-story Courtyard by Marriott Austin-University Area features 186 guestrooms, twelve suites, two meeting rooms totaling 1,342 square feet of meeting space, and a fitness center, business center, and pool. It is located on I-35 and Route 290 directly across from Dell Children’s Hospital and a few miles north of downtown Austin, Texas. 


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Mary founded Scoop Tour with an aim to bring relevant and unaltered news to the general public with a specific view point for each story catered by the team. She is a proficient journalist who holds a reputable portfolio with proficiency in content analysis and research. With ample knowledge about the Automobile industry, she also contributes her knowledge for the Automobile section of the website.

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