Mohammad Honarkar Of 4G Ventures Secures $35 Million Refinance Loan From Peachtree Group For Hotels

The transaction involves refinancing two hotel properties located at 74895 Frank Sinatra Drive and 38305 Cook Street in Palm Desert, with a total of 281 keys comprising the Courtyard by Marriott and the Residence Inn. The refinance loan amounts to $35,000,000, secured to support upcoming renovations at the hotels. The loan is structured as a two-year term with three 12-month extension options included.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $35,000,000
• Lender: Keegan Bisch - Peachtree Group
• Landlord: Mohammad Honarkar - 4G Ventures
• Loan Type: Refinance
• Loan Terms: two-year loan, with three 12-month extension options

This transaction highlights the collaboration between Keegan Bisch from Peachtree Group, who facilitated the loan, and Mohammad Honarkar of 4G Ventures, the landlord involved in this refinancing process. The financing arrangement has been executed amidst a growing interest in the Palm Desert market, influenced by tourism activities and developments in the vicinity.