April 8, 2019 Comments Off on Walker & Dunlop Arranges $25M in Financing for Shopoff Portfolio in Cathedral City Views: 573 California News, Inland Empire

Walker & Dunlop Arranges $25M in Financing for Shopoff Portfolio in Cathedral City

Shopoff Realty Investments, Inc. secured $25 million in financing for the Westkin Portfolio, an 810-acre collection of sub-ground leases with more than 2,000 individual condominiums and businesses in Cathedral City, CA. The portfolio includes subleases for several income-producing companies such as the Desert Princess Country Club, a DoubleTree hotel, the Welk Resort, the Cathedral Canyon Country Club, and an Extra Space self-storage property.

Walker & Dunlop, Inc.’s Mark Strauss and Rob Quarton structured the 20-year, self-amortizing loan on behalf of the property owner. The financing replaces a short-term acquisition bridge loan and facilitates the owner’s business plan, which includes modernizing operations to reduce expenses.

Shopoff Realty Investments, Inc.’s William Shopoff says, “the project has a 40-year history of an uninterrupted stream of payments, as well as appropriate financial incentives to potentially continue for the next 40 years or more.”

Connect With Shopoff Realty Investments, Inc.’s Shopoff

Connect With Walker & Dunlop, Inc.’s Strauss


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