Another Successful Hotel Refinance
DANA POINT, CA: December, 2007 – Chris A. Chiotis, Principal of Pacifica Capital & Brokerage, Inc. is pleased to announce his firm arranged first mortgage financing for the refinance of the 168-room Ramada University located in Fresno, California. Pacifica arranged the fixed rate deal (which included significant cash-out and an interest rate below 7.0 percent) through a Southern California based bank.
“Pacifica’s well targeted and highly effective “auction-style” bidding process, allowed us to achieve the rate and terms we wanted and also provide us with cash-out” according to Mike Patel, of Shaw Hospitality Group, Inc.
Ramada University is well located in the heart of Fresno’s business and shopping districts, proximate to Fresno State University, Fresno City College and Fresno Yosemite International Airport.
About Pacifica Capital & Brokerage, Inc. – Dana Point, CA-based Pacifica is a boutique commercial real estate brokerage firm with focused experience in hospitality real estate. With a national reach and an emphasis in hospitality financing, Pacifica maintains solid relationships with the industry’s most active and aggressive capital sources. Pacifica’s depth of knowledge, coupled with its strong relationships allows them to strategically target capital sources that best fit their client’s needs, yielding the most competitive rate and terms available in the market.
Chris A. Chiotis
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