109
FISHERS, IND. — Vista Capital Co. has arranged $7.7 million of financing for the Staybridge Suites in Fishers, a northeast suburb of Indianapolis. The Staybridge Suites is a 146-room, five-story hotel built in 2000 and is located at 978 Crosspoint Blvd. A European-based structured finance group provided the CMBS loan. The 10-year, fixed-rate financing will be used to fund a performance improvement plan in 2015. The financing will also retire an existing loan, while concurrently reducing debt-service payments and providing ownership with an equity recapitalization. This is the second hotel financing Vista has closed in metropolitan Indianapolis within the last four months.