Financing for Ramada Plaza Hotel
DANA POINT, CA: August, 2009 – Chris Chiotis, Principal of Pacifica Capital & Brokerage, Inc. is pleased to announce his firm arranged first mortgage financing for the purchase of the 132-room Ramada Plaza Hotel located in Fon du Lac Wisconsin. Pacifica arranged the deal (which provided 80% leverage with a very attractive interest rate) through one of the firm's relationship banks based in the Southeastern US.
“Amid what continues to be an extremely challenging hotel financing market, Pacifica’s deep relationships and proven experience, allowed us to achieve the rate and terms we wanted, close on time with no surprises and also secure additional capital for property improvements” according to AG Patel, of North Main Hospitality, LLC.
The Ramada Plaza Hotel is an 8-story, historical landmark situated in the heart of downtown Fond du Lac and is within walking distance of downtown area shopping, entertainment and restaurants. As part of the acquisition. the property will undergo a major renovation with planned improvements to the exterior, guestrooms and public space.
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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