Walker & Dunlop Secures $160 Million Loan for Cotino Community

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.

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Additional Resources

• PR Newswire
• Wikipedia: Rancho Mirage
• Forbes
• Google Search: Cotino Community
• Glassdoor: Walker & Dunlop
• Encyclopedia Britannica: Disney