Malibu, California-based Vista Capital Co. has closed $10 million of financing for the Candlewood Suites hotel at 1152 N. White River Parkway West, Vista has announced.
Candlewood plans to use the money for extensive renovations at its 142-room property, Vista said. The site was converted from an apartment building to a hotel in 2007.
The 10-year, non-recourse, fixed-rate financing came from a Europe-based investment bank after a competitive bidding process, Vista said. Vista is a real estate investment firm that specializes in arranging financing for hotels.•