FBO Advisors New Hangar Development Saves $1 Million in Initial Loan Financing

Real estate developer Ron Rasak is the visionary behind the 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 and hangar development and financing, is the rainmaker who secured the financing for this project.

With the financing deal, CloudNine will construct four private 25,200-square-foot luxury hangars each with 5,100-square-foot luxury Class-A office space at Camarillo, KCMA. Construction is underway on the 121,200-square-foot project 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 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 or hangar?” said Daddis. “It’s not in the wheelhouse of the local financial institutions where you do business. The FBO is an unusual business on leased airport land and most lenders see that as a red flag.”

FBO Advisors has discovered an “overwhelming need for financing projects like CloudNine." As a result, Daddis has launched a separate entity called Air Capital Group, which will address the fiduciary needs of the company’s clients that are expanding their FBO capital projects.

“We project in 2021 our sister company Air Capital Group will place in excess of $200 million in initial funding in the marketplace,” said Daddis.

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.”