Million-dollar financing from Vista Capital to Indianapolis Candlewood
Vista Capital Company, a Los Angeles-based real estate investment company, will pay a million dollars to the financing of Candlewood Suites in the heart of Indianapolis.
“Vista has now financed more than $250 million of hotels in Indiana over the last seven years,” Zak Selbert, founding principal at Vista Capital, said in a statement.
Vista made flat-rate financing negotiations for the property. The 10-year capital will be used to finance a product development plan that will be renewed.
Financing was given to a European-based investment bank after a bidding process that was central to Vista’s capital increase strategy.
Candlewood Suites is a hotel converted in 2007 in an apartment building. The 142-room property is located in the center of Indianapolis. Located in the center of the city’s medical center, the hotel offers living spaces designed for long-term customers. The facility will soon undergo a comprehensive renovation.
Indianapolis is the largest city in the US state of Indiana with a population of 829.718. Indianapolis is the capital city of the state of Indiana and the administrative center of the county of Marion. It ranks 14th in the USA’s largest cities list. Located in the east of the Mississippi River, the US population is the fastest developing city.
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