Bank of the West's premium wine team corks its largest deal

Bank of the West said it was the sole lead arranger and administrative agent in a $150 million syndicated loan for Vintage Wine Trust, the nation's first real estate investment trust focused on the wine and vineyard industry.

In Bank of the West's premium wine team's largest deal ever, the San Francisco bank led a consortium of 13 financial institutions in the loan.

Based in Napa, the bank's premium wine team serves both large scale and premium small quantity wine industry clients including grape growers, wine producers and distributors as well as related suppliers.

"We've had a long-standing relationship with Vintage Wine Trust," said Adam Beak, vice president and senior relationship manager with Bank of the West in Napa.

San Rafael-based Vintage Wine Trust purchases vineyards throughout California, Oregon and Washington, and leases back the land to wineries and grape growers, thereby letting them preserve capital for investment and expansion, in order to boost profitability.

Bank of the West, with more than 20 years of experience lending to the wine industry, recently strengthened its premium wine team by hiring Carol Collison and Ron Fulop as vice presidents and senior relationship managers.

What are people saying about mortgages today:

Rates on 30-year mortgages edged down last week to a seven-month low. Mortgage-giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages fell to 6.3 percent, down slightly from 6.31 percent two weeks ago. It put rates at the lowest level since they were at 6.24 percent the first week of March.

Bank of Hawaii, Central Pacific Bank, Territorial Savings Bank and Wells Fargo Home Mortgages all cut their 30-year mortgage rates to 5.75 percent this week.

Most people think of a mortgage as a means to an end. After all, you buy a house, not a home loan. But a mortgage is much more than the path to homeownership. It is a financial instrument that must be managed, just like any other financial investment.