Santa Monica, California — Vista Capital Company announced that it recently structured $10,900,000 of financing for the Keystone Homewood Suites located in Indianapolis, Indiana. “Vista has now closed over $100 million of hospitality-related financing solely in Indianapolis in the past three years,” said Zak Selbert, the founding principal at Vista Capital.
Vista was able to negotiate highly favorable, non-recourse, fixed-rate financing with pricing below 4.5%. The 10-year capital will be used, in part, to fund a large renovation project, which will revitalize an already dynamic property. The financing was awarded to an affiliate of a European-based investment bank after the loan was competitively bid by several lenders all drawn to the strong market, sponsorship, and asset.
The Homewood Suites is a 116 all-suite, upscale, extended-stay hotel, situated on the thriving north side of Indianapolis, minutes from top companies and the Keystone at the Crossing shopping mall. The location is a short drive to downtown Indianapolis, the 12th largest city in the United States, and one of the top 25 most visited cities in the country, hosting over 18 million annual visitors.
