News Summary
Walker & Dunlop has arranged a significant $160 million loan for the development of the Cotino Community in Rancho Mirage, California. This master-planned community, branded as Storyliving by Disney, aims to provide 1,900 residential units complemented by a stunning 24-acre lagoon and a range of amenities. The financing package, which includes a $27 million re-advance component, is set to facilitate construction and enhance the living experience for future residents. With a focus on quality living and leisure, Cotino aims to attract families and individuals seeking an engaging lifestyle in the Coachella Valley.
Walker & Dunlop Secures $160 Million Loan for Cotino Community in Rancho Mirage
Walker & Dunlop, Inc. has successfully arranged a substantial $160 million loan aimed at financing a master-planned community, known as Cotino, in Rancho Mirage, located in the picturesque Coachella Valley. This funding initiative is a significant step towards launching the first phase of the community, which promises to offer a unique living experience designed by Disney.
In addition to the $160 million, the financing package includes a re-advance component of $27 million, increasing the total proceeds to $187 million. This financial support will enable the development of various amenities and an extensive residential area within Cotino.
Community Features and Amenities
Cotino is characterized as a Storyliving by Disney Community, representing a transformational approach to residential living. The community is set to include approximately 1,900 residential units, catering to individuals and families seeking a vibrant lifestyle surrounded by a plethora of activities.
One of the standout features of the Cotino community will be a spectacular 24-acre lagoon that utilizes advanced Crystal Lagoons technology. This innovative lagoon will not only enhance the aesthetic appeal of the area but also offer residents recreational opportunities right at their doorstep.
Additional attractions will comprise a voluntary private club and a lively town center that aims to foster community interaction and provide various amenities. These components are designed to create a cohesive atmosphere where residents can socialize, relax, and enjoy their surroundings.
Team Behind the Financing
The financing deal was facilitated by Walker & Dunlop’s experienced Capital Markets team. Led by accomplished finance professionals, the team worked closely with the borrower, EC Rancho Mirage Holdings Limited Partnership and its affiliates, showcasing their expertise in securing substantial loans for ambitious projects.
Members of the financing team played pivotal roles throughout the process, ensuring that the necessary funds were arranged efficiently to support the community’s construction. Their efforts underscore Walker & Dunlop’s commitment to advancing high-profile projects that promise to enrich the real estate landscape.
Industry Impact
The Cotino community in Rancho Mirage is anticipated to be more than just a residential development; it represents a shift towards creating immersive living environments that prioritize lifestyle and leisure. The focus on unique amenities such as the lagoon and private club signifies a growing trend within the housing market, where buyers increasingly seek communities that offer both relaxation and entertainment.
The involvement of Disney also adds an intriguing element to the project, as the brand is known for its dedication to high-quality, family-friendly experiences. This partnership may enhance the marketability of the community and attract potential residents looking for a distinct living situation.
Future Developments
As construction progresses, Cotino is expected to make a notable impact on the local economy by creating job opportunities and stimulating housing demand in the area. The unique lifestyle offerings and scenic location are likely to draw interest from prospective homebuyers, ensuring the community’s future success.
In conclusion, the successful arrangement of a $160 million loan for the Cotino community marks a significant milestone in the advancement of innovative residential developments in the Coachella Valley. With its unique features and exceptional design, Cotino is poised to redefine the residential experience for potential homeowners in the region.
Deeper Dive: News & Info About This Topic
Additional Resources
- PR Newswire
- Wikipedia: Rancho Mirage
- Forbes
- Google Search: Cotino Community
- Glassdoor: Walker & Dunlop
- Encyclopedia Britannica: Disney
Author: Construction TX News
TEXAS STAFF WRITER The TEXAS STAFF WRITER represents the experienced team at constructiontxnews.com, your go-to source for actionable local news and information in Texas and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Texas Construction Expo, major infrastructure unveilings, and advancements in construction technology showcases. Our coverage extends to key organizations like the Associated General Contractors of Texas and the Texas Building Branch, plus leading businesses in construction and real estate that power the local economy such as Austin Commercial and CMiC Global. As part of the broader network, including constructioncanews.com, constructionnynews.com, and constructionflnews.com, we provide comprehensive, credible insights into the dynamic construction landscape across multiple states.
