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 Provides $160 Million Loan for Disney-Designed Cotino Community
Walker & Dunlop, Inc. has successfully arranged a $160 million loan aimed at developing a master-planned community named Cotino, located in Rancho Mirage within the Coachella Valley. This financing effort represents a significant investment in a project that’s not only ambitious but designed by the renowned Disney brand.
The loan arrangement includes a $27 million re-advance component, which raises the total funds available to the project to $187 million. This additional financial element indicates a robust commitment to the project and its development phases.
The financing proposal was executed by the Walker & Dunlop Capital Markets team, which includes experienced professionals in the commercial real estate field. They provided their expertise and guidance to the borrower, EC Rancho Mirage Holdings Limited Partnership and its various affiliates, ensuring a smooth financial maneuvering process.
Details of the Cotino Community
The loan is particularly earmarked for the construction of the first phase of the Cotino community. This community is branded as a *Storyliving by Disney Community*, showcasing the imaginative capabilities and high standards that come with the Disney name. Residents can expect around 1,900 residential units upon the completion of the community.
One of the standout features of Cotino will be a stunning 24-acre lagoon built using Crystal Lagoons technology. This innovative approach promises to enhance the aesthetic appeal of the community while providing recreational opportunities for residents and visitors alike.
In addition to the lagoon, the community plans to incorporate a range of lifestyle amenities, designed to create an engaging and vibrant living environment. A voluntary private club, coupled with a town center, will serve as focal points for social interaction, leisure activities, and events. Various other amenities are also included to ensure a comprehensive lifestyle experience for residents.
A Landmark Project for the Region
With this major funding secured, construction on Cotino is positioned to move forward efficiently. The financial backing reflects confidence in the project’s potential impact on both the local economy and the broader real estate market, especially given the demonstrated popularity of Disney-branded initiatives.
Expertise Behind the Project
The successful loan arrangement was made possible through the expertise of the team at Walker & Dunlop, led by seasoned professionals who have a deep understanding of commercial real estate financing. Their guidance throughout the lending process ensures that the project remains on track and aligned with its objectives.
The firm is recognized for its significant contributions to the sector and remains committed to facilitating innovative projects that enhance community living. The Cotino community represents one of the latest examples of how strategic financing can lead to the realization of visionary developments.
As the construction process begins, the excitement surrounding Cotino is likely to grow among potential residents and the broader community. This project stands as a testament to the collaboration between finance and visionary planning, promising an extraordinary living environment designed to foster a unique lifestyle experience.
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 NY News
NEW YORK STAFF WRITER The NEW YORK STAFF WRITER represents the experienced team at constructionnynews.com, your go-to source for actionable local news and information in New York 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 New York Build Expo, infrastructure breakthroughs, and cutting-edge construction technology showcases. Our coverage extends to key organizations like the Associated General Contractors of New York State and the Building Trades Employers' Association, plus leading businesses in construction and real estate that power the local economy such as Turner Construction Company and CMiC Global. As part of the broader network, including constructioncanews.com, constructiontxnews.com, and constructionflnews.com, we provide comprehensive, credible insights into the dynamic construction landscape across multiple states.
