PMZ Realty Capital has closed a $10.2-million permanent loan for the Staybridge Suites in Pecos, Texas.
“Closing this $10.2 million loan for the Staybridge Suites in Pecos, Texas, required navigating a challenging capital markets environment, with rising Treasury yields creating additional headwinds for borrowers and putting pressure on financing terms,” said Peter Berk, president of PMZ Realty Capital LLC. “In this environment, strong sponsorship was a key differentiator, providing confidence in the project’s fundamentals and the team’s ability to execute. We’re pleased to have structured and closed a financing solution that positions the property for continued success and are proud to have delivered this transaction in a dynamic and evolving market.”
“We’re proud to have built a 20-year relationship with this client, working together across numerous transactions and navigating a variety of market cycles. We value the opportunity to continue supporting their investment strategy and are pleased to have completed another successful financing together with the Staybridge Suites in Pecos.”
Staybridge Suites in Pecos opened in April 2019. The hotel offers all-suite accommodations for short- and extended-stay guests. Amenities include complimentary breakfast, an evening social hour on Mondays, Tuesdays and Wednesdays, an indoor pool, a 24-hour fitness center, an on-site barbecue area, complimentary guest laundry, free parking, a business center and a 1,250-square-foot meeting room. The hotel is pet-friendly and offers hearing- and vision-accessible guest rooms.
The property is located among commercial plazas off Interstate 20. It is approximately one mile from Buck Jackson Arena, home of the West of the Pecos Rodeo, and two miles from the West of the Pecos Museum.
