Vista Capital Arranges Financing for 2 Indiana Hotels
- Dec 17, 2019
Vista Capital Co. has secured $22.5 million in non-recourse, fixed-rate loans for two hotels: Candlewood Suites in Terre Haute, Ind., and Holiday Inn Express in Indianapolis. The company arranged the financing separately and were not cross-collateralized.
Located at 721 Wabash Ave., Candlewood Suites features common-area amenities such as an on-site business center, meeting convention spaces, Wi-Fi throughout the hotel, fitness center, same-day dry cleaning, self-laundry facilities and picnic tables.
Situated at 410 S. Missouri St., Holiday Inn Express includes a breakfast buffet, off-site restaurant delivery service, walk-in shower, on-site business center, free Wi-Fi in all rooms, indoor heated swimming pool, indoor whirlpool, fitness center and on-site guest self-laundry facilities. Additionally, a complimentary shuttle to and from the convention center is available. Indianapolis International Airport is situated approximately 12 miles from the hotel.
The loans were awarded to a European-based investment bank after a competitive bidding process that is core to Vista’s capital-raising strategy. In another recent deal, Riller Capital acquired the $24.1 million Holiday Inn Express Nashville Airport, a 207-key property in Nashville, Tenn.