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CHARLESTON, S.C., Feb. 11, 2025 (GLOBE NEWSWIRE) -- Parkway International Capital Group (PIC Group) is pleased to announce the successful closing of a $12.3 million refinance loan for a historic boutique hotel in Charleston, South Carolina. This transaction marks PIC Group's first deal of the year, setting the stage for another strong year of strategic financing solutions for real estate investors and developers.
Supporting Growth in One of America's Top Travel Destinations
The borrower is a well-established boutique hotel operator with a track record of successfully restoring and managing heritage properties across the Southeast. With Charleston experiencing record-high tourism and occupancy rates, the borrower sought a refinance solution to reduce debt costs and fund property enhancements.
- 52-room luxury boutique hotel housed in a restored 19th-century landmark
- Planned upgrades, including modernized guest suites, sustainability enhancements, and expanded amenities
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- Prime location in Charleston's historic district, a top-ranked U.S. travel destination
- Refinancing structured to optimize cash flow and unlock capital for future investments
"Charleston remains one of the most sought-after destinations in the country, and this financing ensures our borrower can continue delivering an elevated guest experience while optimizing financial performance,” said Jonathan Lockard, VP Originations of Parkway International Capital Group. "We are proud to start the year by providing a tailored financing solution that supports both operational flexibility and long-term success.”
Strategic Loan Terms for Long-Term Growth
PIC Group structured this refinance package to lower the borrower's debt service while freeing up capital for reinvestment:
- Loan Amount: $12,300,000
- Loan Term: 48 months, interest-only
- Interest Rate: Fixed at 8.75%
- Loan-to-Value (LTV): 70%
- $2 Million Cash-Out Component allocated for property renovations and operational enhancements
"This financing not only lowers our borrower's annual debt obligations but also allows them to strategically reinvest in the property,” added Jonathan. "With the hospitality sector in Charleston seeing continued strength, this loan positions the hotel for sustained growth and profitability.”
New Year, New Momentum: Faster Deals, Greater Capital Access
As PIC Group's first transaction of 2025, this deal reflects the firm's ongoing commitment to helping developers, operators, and investors thrive in today's market. To enhance efficiency and capital deployment this year, PIC Group has:
- Expanded its investor network, ensuring faster approvals and greater funding flexibility
- Streamlined underwriting and closing processes, allowing for quicker turnaround times
- Increased capital availability for multifamily, hospitality, industrial, and mixed-use projects
Looking Ahead: More Deals on the Horizon
With a strong pipeline for 2025, Parkway International Capital Group remains a trusted capital partner for real estate investors seeking customized financing solutions.
About Parkway International Capital Group
Parkway International Capital Group (PIC Group) is a leading private commercial lending firm, specializing in tailored financing solutions for real estate developers and investors. With a focus on efficiency, innovation, and strategic capital deployment, PIC Group partners with clients to bring high-value real estate projects to life.
Media Contact
Marvin Fincham
Visit our website at pic-group.net
Email us at [email protected]
