The Hotel; Candlewood Suites Indianapolis Downtown Medical District has been Sold



(Malibu, CA) The Candlewood Suites Indianapolis Downtown Medical District; is one of three, Candlewood Suites Hotels, in the City of Indianapolis, Indiana U.S.A.  Additionally, it could brag about being conveniently located in the Medical District of the Downtown area.  A quietly known lodging destination to conveniently minded business travelers, or, leisure travelers alike; is another way of describing the aforementioned hotel.  Recently, it was revealed that, this hotel has been sold.  Officially, the Candlewood Suites Indianapolis Downtown Medical District, was sold to a European based investment bank.  The revelation of the sale, was made by, the Vista Capital Company.

The Vista Capital Company, as part of the revelation of the sale, also revealed that it oversaw a competitive bidding process.  The competitive bidding process is pivotal, in order, to implement a capital raising strategy.  As previously said, a European based investment bank won the bidding process, and subsequently, is the new owner of the Candlewood Suites Indianapolis Downtown Medical District.  The financing amount that, was raised was revealed at, $10 million USD.  Further information or details, were not revealed.  Specifically; for this investment transaction, the Vista Capital Company stayed true to its business model.  The latter being hospitality financing, and, being a capital intermediary in the State of Indiana, U.S.A.  Furthermore, this recent investment transaction proves that, the Vista Capital Company has a good foothold on the Indiana hospitality financing market.  Zak Selbert is a Founding Principal at the Vista Capital Company.  Through a press statement, Mr. Selbert said the following.  “Vista has now financed more than $250,000,000 of hotels in Indiana over the last seven years.”

The Candlewood Suites Indianapolis Downtown Medical District was converted from an apartment building, in the year 2007.  Today, it features 142 hotel guestrooms.  Additionally, the business model is extended stay.  For the previous, the hotel guestrooms have a large living space.  The $10 million dollar financing is considered to be a highly favorable, non-recourse and fixed rate financing.  The capital investment has a term life of, 10 years.  Furthermore, the $10 million dollars is also intended to be used for comprehensive property improvement plans (PIP).  The latter being part of the business strategy for this lodging property, of the, European based investment bank who purchased the hotel. 

To end; this particular hotel, Candlewood Suites Indianapolis Downtown Medical District, does check-in at 4:00 pm.  Additionally, check-out is at 11:00 am.  This hotel; is also considered to be the type of hotel that has an outdoor gazebo grill, has an onsite business center, offers same day dry cleaning and has free wireless internet.  Candlewood Suites Indianapolis Downtown Medical District, is located on 1152 N. White River Parkway West Drive, Indianapolis, IN 46222.  The telephone number is (317) 536-7700.  The website is www.ihg.com.  As previously stated, recently it was revealed that the aforementioned hotel, has been sold.  Officially, the Candlewood Suites Indianapolis Downtown Medical District, was sold to a European based investment bank.  The revelation of the sale, was made by, the Vista Capital Company.  Lastly, the Vista Capital Company financed $10 million USD, in order, to complete the purchase transaction.



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Written from Press Release

Registered Writer at

PR Newswire Association, LLC

02/23/2019



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