Pacifica Capital Arranges Purchase Financing for Ramada Plaza Hotel
DANA POINT, CA, August 3, 2009 - Chris Chiotis, Principal of Pacifica Capital & Brokerage, Inc. is pleased to announce his firm arranged first mortgage financing for the purchase of the 132-room Ramada Plaza Hotel located in Fon du Lac Wisconsin. Pacifica arranged the deal (which provided 80% leverage with a very attractive interest rate) through one of the firm's relationship banks based in the Southeastern US.
"Amid what continues to be an extremely challenging hotel financing market, Pacifica's deep relationships and proven experience, allowed us to achieve the rate and terms we wanted, close on time with no surprises and also secure additional capital for property improvements" according to AG Patel, of North Main Hospitality, LLC.
The Ramada Plaza Hotel is an 8-story, historical landmark situated in the heart of downtown Fond du Lac and is within walking distance of downtown area shopping, entertainment and restaurants. As part of the acquisition. the property will undergo a major renovation with planned improvements to the exterior, guestrooms and public space.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
