SOURCE: Vista Capital Company

May 03, 2007 11:45 ET

Vista Capital Company Arranges $13.5 Million of First Mortgage Financing for the Homewood Suites in Troy, Michigan

SANTA MONICA, CA -- (MARKET WIRE) -- May 3, 2007 -- 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.

Contact Information