Walker & Dunlop, Inc. announced today that it has arranged a $160 million loan for a master planned community located in California’s acclaimed Coachella Valley in the City of Rancho Mirage. The loan has a $27 million re-advance component for total proceeds of $187 million.
Walker & Dunlop Capital Markets, led by Sean Reimer, Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Dustin Stolly, Ari Hirt, and Christopher de Raet, were exclusive advisors to the borrower, EC Rancho Mirage Holdings Limited Partnership and its affiliates, to arrange the construction financing for the completion of the first phase of the community. Intervest Capital Partners and Builders Capital provided the capital.
The master planned community, Cotino™, a Storyliving by Disney™ Community, is expected to contain approximately 1,900 residential units, a 24-acre lagoon with Crystal Lagoons® technology, a voluntary private club, a town center and various other amenities.
“Featuring a stunning backdrop of the Coachella Valley’s natural beauty and close proximity to Palm Springs amenities, the desire to live in Rancho Mirage remains high,” said Reimer, managing director of New York Capital Markets at Walker & Dunlop. “We are honored to work on this community, a groundbreaking project that blends unique lifestyle amenities and award-winning homebuilders. We look forward to seeing this extraordinary community come to life.”
Walker & Dunlop is one of the top providers of capital to the U.S. multifamily market; in 2024 the firm originated over $30 billion in debt financing volume, including lending over $25 billion for multifamily properties. This vast experience has made them a top advisor on all asset classes for many of the industry’s top developers, owners, and operators. To learn more about Walker & Dunlop’s broad financing options, visit our website.
