News for the Hospitality Executive
|Santa Monica, California July 3, 2007 - Vista Capital
Company announced today that it arranged first mortgage financing for the
Best Western Ocala Park Centre located in Ocala, Florida. The Best
Western is an upscale, 138-room, 4-floor, limited service hotel offering
an outdoor heated pool, Jacuzzi, complimentary breakfast room, and meeting
space for 15 guests.
Despite instability in the real estate capital markets, Vista Capital was able to negotiate pricing for the 10-year fixed rate loan of 100 basis points over the 10-year Treasury. The loan was provided by an affiliate of a Wall Street investment bank and replaced financing that was assumed by the owner in 2004. The loan enabled the borrower to re-capitalize equity, which was created via increased cash flow since the owner purchased the property in 2004.
In addition to pulling out a significant amount of capital, the new financing will allow the borrower to decrease annual financing costs, said Zak Selbert, a Principal at Vista Capital Company.
Vista Capital Company is a boutique, Los Angeles-based, real estate investment banking firm that specializes in arranging financing for commercial property nationwide. As a real estate capital intermediary, Vista procures tailored capital solutions for their clients through a comprehensive platform of services. Vista works on projects large and small, placing value on the creation of enduring client and lender relationships.
|Also See:||Vista Capital Company Arranges $13.5 Million of First Mortgage Financing for the Homewood Suites in Troy, Michigan / May 2007|
Please contact Hotel.Onlinewith your comments and suggestions.