Vista Capital Arranges First Mortgage Financing for Hilton Garden Inn
Fairfax, VA
SANTA MONICA, CA, December 18, 2007. Vista Capital Company announced that it procured $27,320,000 of first mortgage financing for the Hilton Garden Inn located in Fairfax, Virginia, 15 miles west of Washington, D.C. Opened in 2002, the Hilton Garden Inn is an upscale, full-service, 149-room, five-floor hotel offering approximately 5,065 square feet of meeting and banquet space, dining at the 66-seat Great American Grill, an executive business center, a 24-hour fitness center, an indoor heated pool, and parking for 260 vehicles.
The ten-year fixed-rate loan was funded by an affiliate of a Wall Street investment bank. The loan features interest-only payments for the first two years and was competitively bid by several lenders who were drawn to the stable and increasing cash flow, the ideal Washington D.C. location, and the excellent brand of the asset.
The closing of this fourth quarter financing further confirms Vista Capital Company's expertise in closing transactions in both high and low liquidity environments. "It was a turbulent year for the real estate capital markets," said Zak Selbert, a Principal at Vista Capital Company. "Yet Vista continues to be successful in securing capital for a variety of projects."
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