Vista Capital Closes $22,500,000 of Financing for Two Hotels in Indiana

Vista Capital Company announced that it recently arranged $22,500,000 of financing for the Candlewood Suites located in Terre Haute, Indiana and the Holiday Inn Express in downtown Indianapolis. The loans were funded separately and were not cross-collateralized. "Our hospitality clients are taking advantage of CMBS rates below 4% for the first time ever," said Zak Selbert, founding principal at Vista Capital. Both properties recently underwent significant renovations and cash flow is jumping at the hotels. The assets are dominant in their markets and are owned and operated by one of the most experienced development groups in the region. Indiana's hospitality market is growing despite significant new supply over the last few years, powering a resilient sector that is attracting institutional investment. The Terre Haute market will soon be boosted by a new convention center, while Indianapolis remains a solid and growing metropolitan powerhouse.