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$17.3-Million Financing for Historic Indiana Hotel

Monday November 19th, 2012 - 9:28AM

SANTA MONICA, CA—Vista Capital Company, based here, has arranged for $17.3 million of financing for the Crowne Plaza Union Station in Indianapolis, IN. It was funded by an affiliate of a European-based investment bank, and the 10-year, fixed-rate financing with pricing of approximately 5% will allow for a renovation of the hotel’s interior. In addition, it will be used to retire the existing financing, while reducing debt service payments.

The hotel, which is listed in the National Register of Historic Places, stands adjacent to the Indiana Convention Center and is connected to Lucas Oil Stadium via an over-air walkway. It features 273 rooms including 26 original Pullman train car sleeping rooms named and decorated after famous personalities from the early 1900s.