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| Crowne Plaza in Indianapolis |
Vista Capital Company announced that it recently structured $28 million of financing for three hotels, including a Crowne Plaza in Indianapolis, a Holiday Inn Express in Louisville, and a Homewood Suites in Chicago. The three deals were funded by three different capital sources, including a life insurance company, a regional bank, and a CMBS lender. "Given the constantly shifting hospitality capital markets, Vista utilized its diversified base of financing sources, allocating capital to the most advantageous sources in real-time," said Zak Selbert, the founding principal at Vista Capital.
Data analytics and intuition were central to each financing, since lender selection was required under extremely volatile market conditions. Vista negotiated highly favorable, fixed-rate financing for all three loans, with pricing ranging from 3.5% to 5%. The conduit and the life insurance company loans both feature 10-year terms, and will be used, in part, to fund large renovation projects. The seven-year bank loan was utilized to take advantage of incredibly low rates currently available for hotels. Each financing was awarded to their respective lender after intense competitive bidding, affirming Vista's specialization in financing hotels under all market dynamics.
