Financing News Release
FBO Advisors Secures Financing for Multi-million Dollar Hangar Developer at Camarillo Airport
Financing News Release
PHOENIX, Feb. 10, 2021 – Real estate developer Ron Rasak is the visionary behind a one of a kind multi-million dollar CloudNine hangar project at Camarillo Airport. FBO Advisors Founder and CEO Nicholas Daddis, a noted expert in the micro-industry of FBOs (fixed-based operators) and hangar development and financing, is the rainmaker who secured the financing for this project.
With the financing deal, CloudNine will construct four private 25,000-square-foot luxury hangars at Camarillo, KCMA. Groundbreaking on the 100,000-square-foot project will occur this spring and completion is expected within 12 to 14 months. “I couldn’t have done it without Nicholas,” said Rasak, CEO of RKR commercial real estate. “I thought I had the financing, but when the pandemic swept the country, it disappeared, and I turned to Nicholas.”
“As a developer, I thought it would be easy to secure financing for my project, but banks have a hard time embracing aviation,” said Rasak. “Because Nicholas understands both the fixed-based operators markets and real estate development, he was able to show the value of the project to the lender.
He saved me close to $1 million from having to take out a higher-interest loan.”
Daddis is an industry leading FBO consultant, with more than 45 years of experience. Although CloudNine is a hangar development project, Daddis says FBO Advisors understands all aspects of Tier 2 and Tier 3 FBOs, hangar development and their airports. “We are “all matters consultants” to FBOs, whether they want to understand their value for potential sales opportunities or for financing or refinancing purposes. And new hangar development and financing is also our specialty”
FBOs are unique because they deal with leased land and a special business and income model. “Where do you go to get someone to fund your FBO?” said Daddis. “It’s not in the wheelhouse of the local financial institutions where you do business. The FBO is a tenant that simply rents and most lenders see that as a red flag.”
FBO Advisors understands the nuances and can present loan applications in a way that lenders it has identified and has special relationships with can realize their return on investment in a very niche industry. “We go way beyond financing,” said Daddis. “We show FBOs a path for growth. We help them with their exit strategy and in securing the best sale possible for their FBO, facilities, and hangars.”
About FBO Advisors
FBO Advisors values, analyzes, sells and advises FBOs on how to improve. It has a curated team knowledgeable about FBO success drivers like maximizing income and profit, operations, aviation management, EBITDA valuation, MAI appraisals, RFP responses, profitability surveys, , FBO and hangar development, strategic planning and competitive market surveying. With more than $500 million in FBO acquisition and disposition transactions, the company’s reach is global: from selling an international FBO – Athens Aviation FBO in Greece to the $80 million sale of an Midwest-based 4 FBO location chain, to advising iconic LAX World Airports.
FBO Advisors has offices in Phoenix and Denver and has the largest FBO buyer and FBO/Hangar financing database in the FBO industry. Contact FBO Advisors at (303) 221-8000.