Crowne Plaza Union Station Owner Obtains $17M Loan

INDIANAPOLIS-Vista Capital Co. arranged and closed a $17.3 million loan for the owner of the 273-room Crowne Plaza Union Station.  The 10-year, fixed-rate loan will fund a large renovation project focused on the hotel’s interiors.

The funding, which was arranged by Vista Capital Co. through a European investment bank, will also retire existing financing, which will help reduce debt service payments on the property by approximately one-third.  The hotel at 123 W. Louisiana St. is managed by InterContinental Hotels Group and is listed in the National Register of Historic Places. The property is adjacent to the Indiana Convention Center and is connected via over-air walkway to Lucas Oil Stadium.