$5,000,000 – Palm Springs, CA

In April of 2024, Emerald Creek Capital provided a $5,000,000 acquisition loan in Palm Springs, CA. The subject property is a 107-room hotel on 4.5 acres, which the sponsor plans to renovate into an upscale resort. Emerald Creek’s loan represented 40% of the acquisition cost. Our short-term loan was an advantageous and less expensive capital solution for the sponsor over sourcing all equity at a premium. Palm Springs is a renowned leisure destination in the picturesque desert region of Southern California, known for its hot springs, stylish hotels, golf courses, and spas. The lively downtown district is a mix of trendy cafes, restaurants, boutiques, and entertainment venues boasting a vibrant cultural scene. The nearby San Jacinto Mountains and Joshua Tree National Park offer scenic recreational opportunities. The subject property is 10 minutes from Palm Springs Airport, with prominent visibility on the primary thoroughfare connecting I-10 (from Los Angeles) to Downtown Palm Springs.

 

For more information, please contact:

Mike Cleaver, Managing Director
(212) 239-6845
mcleaver@emeraldcreekcapital.com

 

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