Published:
Vista Capital Company Arranges $13.5 Million of First Mortgage Financing for the Homewood Suites in Troy, Michigan
Vista Capital Company announced that it
recently arranged $13,500,000 of first mortgage financing for the Homewood
Suites located in Troy, Michigan. Opened in 2002, the Homewood Suites is a
150-room, 4-floor, all suite hotel offering an indoor heated pool, a
fitness center, and an executive business center with approximately 1,200
square feet of meeting space.
Vista Capital Company was able to negotiate pricing for the 10-year fixed
rate loan in the low 100 basis point range over the 10-year treasury. The
loan was interest-only for 10-years and was provided by an affiliate of a
Wall Street investment bank. Despite a negative perception of the
metropolitan Detroit market, the loan was competitively bid by several
lenders, who were attracted to the stable cash flow and strong brand
affiliation of the asset.
About 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.
Copyright © 2009, MarketWire
Copyright © 2009, NewsBlaze,
Daily NewsTags: ,RealEstate and Construction:CommercialRealEstate, ,CA,SANTA MONICA, CA
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