Vista Capital Company Closes $24 Million of Financing for the Historic Crowne Plaza Union Station Hotel in Indianapolis

MALIBU, Calif., March 9, 2023 /PRNewswire/ — Vista Capital Company announced that it recently arranged and closed $24,000,000 of financing for the Crowne Plaza Union Station located in the heart of downtown Indianapolis, within America’s first Union Station. The hotel is listed in the National Register of Historic Places. The property is adjacent to the Indiana Convention Center and is connected via over-air walkway to Lucas Oil Stadium. The full-service, upscale Crowne Plaza features 273 rooms, including 26 original Pullman Traincar sleeping rooms named and decorated after famous personalities from the early 1900s.

The financing was funded by an affiliate of a European-based investment bank. The loan was competitively bid by several lenders, who were drawn to the market, the strong sponsorship, and the performance of the asset. The 10-year, fixed-rate financing will be used to fund a significant renovation project to upgrade the hotel with a modern, clean, and chic aesthetic. The PIP will solidify the property’s position in the market.

This is the second time Vista Capital has financed the asset in the last eleven years. “Despite volatile capital markets,” Selbert added, “the borrower benefited from Vista’s ability to structure simple long-term, fixed-rate financing that would often be funded via a complex and expensive floating-rate bridge loan. The financing will enable the ownership group to undertake a large improvement to the property at a very dynamic time in Indianapolis.”

About Vista Capital Company

Vista Capital Company is a Los Angeles-based, real estate investment banking firm that arranges financing for hotels. As a real estate capital intermediary, Vista procures capital for their clients through a comprehensive and systematic process.

Contact:            Zak Selbert
Email:               [email protected]  
Phone:              310.499.1212 
Web:                www.vistacapitalcompany.com

SOURCE Vista Capital Company

Originally published at https://www.prnewswire.com/news-releases/vista-capital-company-closes-24-million-of-financing-for-the-historic-crowne-plaza-union-station-hotel-in-indianapolis-301766295.html
Images courtesy of https://pixabay.com

Related Stories

best marketing company in Miami

Discover

Montana’s Madison Foods Selected for Liviri’s Independent E-Grocer Grant

Liviri awards Montana-based grocer Madison Foods with resources to increase operational efficiency of their...

Orange Lake Resort Opens Toptracer Range at The Legends

ORLANDO, Fla., Nov. 2, 2023 /PRNewswire/ -- Holiday Inn Club Vacations Incorporated, an international...

Participate in Giving Tuesday by Donating Your Old Unused...

Nonprofit Cell Phones for Soldiers Helps You Give Back Without Having to Open Your...

Half of Consumers Plan to Order From or Dine...

Consumers can expect more tech-enabled experiences from restaurants Experts offer advice to make Thanksgiving deliciously...

SUNSEEKER RESORT CHARLOTTE HARBOR TO OFFICIALLY WELCOME ITS FIRST...

Florida's Newest Premier Gulf Coast Oasis Is Set To Open Its Doors To Its...

McDonald’s to Acquire Carlyle’s Stake in McDonald’s China

CHICAGO and HONG KONG, Nov. 20, 2023 /PRNewswire/ -- McDonald's Corporation (NYSE: MCD) and global...
watch free celebrity tv