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Vista Capital Arranges Financing on Two IN Lodging Properties
Vista Capital Company recently arranged $22,500,000 of financing for the Candlewood Suites located in Terre Haute, IN and the Holiday Inn Express in downtown Indianapolis. Provided by a European-based investment bank, the loans were funded separately and weren’t cross-collateralized.
“Our hospitality clients are taking advantage of CMBS rates below 4% for the first time ever,” said Zak Selbert, founding principal at Malibu, CA-based Vista Capital.
Both properties recently underwent significant renovations, and cash flow is increasing, says Vista. The assets are dominant in their markets and are owned and operated by one of the most experienced development groups in the region.
Vista notes that Indiana’s hospitality market is growing despite significant new supply over the past few years, powering a resilient sector that attracts institutional investment. The Terre Haute market will soon be boosted by a new convention center, while Indianapolis remains a solid and growing metropolitan powerhouse, says Vista.
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- ◦Financing
