Signature Bank and RKR, Inc. Partner to Expand Aviation Partnership in Ventura County

By Sarah Bendorf.
Updated Jun 13, 2023

ROSEMONT, Ill. (PRWEB) June 13, 2023 - Signature Bank, one of the countrys fastest growing, independently owned business banks in Illinois, and RKR, Inc., a commercial real estate developer, have announced the expansion of their financial relationship. Signature Bank has approved a new financing facility capital to support RKRs future aviation developments, including at the Camarillo, Calif. airport. The two companies began working together in 2019 when Signature Bank financed RKRs CloudNine executive hangar in Camarillo, followed by CloudNines acquisition of FBO Channel Islands Aviation (CIA) in 2022. Notably, CIA has secured a 50-year lease with the County of Ventura and has committed to modernizing the existing facilities to include a luxury fixed based operators (FBO) and 64,000 square feet of hangar and office space.

One of the key challenges we face in aviation is that its very difficult to find a lender with an in-depth understanding of our industry and the high cost of development that is essential to a successful partnership, stated Nick Martino, Vice President of Operations for CloudNine. That is what makes Signature Bank so unique I dont have to explain aviation industry nuances, best practices, or federal obligations. They know our space and we both value a successful relationship.

CloudNine Construction Near Completion Created by visionary commercial real estate developer Ronald Rasak of RKR, Inc., CloudNine in Camarillo, Calif. is a luxury, private hangar complex at Camarillo Airport offering an impressive 255,000 square feet of ramp space and 121,621 of hangar space and office space. Construction will be completed in spring 2023 and features upscale amenities and customization opportunities for aircraft operators who desire privacy, security and luxury in their own exclusive hangar and office. CloudNine has already secured a 50-year lease with operators recognizing the long-term viability and sustainability of this project. It is the first of several planned CloudNine developments.

We are thrilled that CloudNine at Camarillo already has secured leases, with the opportunity for additional leases with hangar and office space that can be customized, said Ronald Rasak, CEO of RKR, Inc. and CloudNine. We invite aircraft owners to explore how we can provide them with an unparalleled hangar experience.

Channel Islands Aviation Acquisition Complete Channel Islands Aviation (CIA) was acquired by CloudNine in 2022 and is one of three FBOs at the Camarillo airfield. The company has been on site since 1976 and is the airports only full-service FBO. CIA offers a Part 141 flight school with more than one hundred active students and is a partner campus to Liberty University for students interested in becoming commercial pilots.

CIA is also a Cessna, Cirrus and ICON service center and an FAA approved part 145 repair station, in addition to providing a wide range of other aviation services. CIA offers fuel and maintenance services to aircraft owners who lease at CloudNine in an ala carte format, customized to each clients needs. The company also is an authorized Garmin dealer.

As a Ventura County native, I was familiar with the legacy of Channel Islands Aviation and knew it would be a huge asset to our offerings at CloudNine, said Nick Martino, Vice President of Operations for CloudNine. It is the only full-service FBO at the airport, providing a wide range of aircraft owners streamlined services.

Signature Bank and RKR/CloudNine worked closely with the County of Ventura on development plans for CloudNine, which is currently the airports primary development project. This included the acquisition of long-time resident CIA in 2022. CIA provides more than forty jobs for the Ventura County community, with additional jobs created because of this modernization project which includes a 50-year lease and approximately 260,000 ramp space.

Signature Banks customer-centric approach and expertise in the aviation industry allowed us to partner with RKR in California on their unique projects and acquisition opportunities, stated Dave Wymer, Senior Vice President, Signature Bank. While most of our relationships are concentrated in the Midwest, as our clients grow and expand, we grow and expand with them. We are thrilled to work with RKR as they further solidify their leadership position in the luxury aviation space, and we appreciate the ease of the dynamic in working with the County of Ventura on the CloudNine at Camarillo project.

For additional information about Signature Bank and its full-service, commercial bank offerings for privately owned businesses and their owners, visit http://www.signaturebank.bank or call 773-467-5600.

Aircraft owners interested in exploring leasing opportunities at CloudNine at Camarillo are invited to contact Nick Martino, Vice President of Operations for CloudNine, at 805-612-3647.

About Signature Bank Signature Bank is an award-winning, relationship-based commercial bank wholly owned by Signature Bancorporation, Inc., a privately funded, locally owned bank holding company founded in 2006. Headquartered in Rosemont, IL, Signature Bank provides accessible, strategic, and highly individualized commercial banking services to closely held companies, as well as full-service retail banking capabilities. Technology driven and well-capitalized, Signature Bank is currently the fastest growing, independently owned business bank in the Chicagoland area. Visit Signature Bank online at http://www.signaturebank.bank.

About RKR, Inc. RKR Incorporated is a commercial real estate development firm renowned for its vision, innovation, and dedication to excellence. Founded by CEO Ronald Rasak in 1986, the companys creative, solution-oriented team approaches each project armed with a comprehensive understanding of market conditions and economic trends. Featuring state-of-the-art technology and unique, streamlined design concepts, RKR developments continue to benefit both investors and community members for years to come. For more information visit http://www.rkrinc.com

About CloudNine CloudNine is a private hangar complex offering an exclusive hangar campus at select markets throughout the country. Created by visionary commercial real estate developer Ron Rasak of RKR, Inc., the CloudNine at Camarillo, CA opened in June of 2023 and offers some 121,621 square feet of private hangar and office space and ramp space of 255,000. For leasing information visit: http://www.cloudninehangars.com or call Nick Martino, Vice President of Operations for CloudNine, at 805-612-3647.

About Channel Islands Aviation Channel Islands Aviation (CIA) was Camarillos first full service FBO and has been serving general aviation in Ventura County since 1976. Acquired by CloudNine in 2022, CIA offers fuel sales and hangar space, flight training, and aircraft maintenance. For more information visit https://flycia.com/