The transaction involves the sale of a 130-acre land parcel located at 79179 Ahmanson Lane in La Quinta for a transaction amount of $65,000,000. The land is associated with the SilverRock Resort site, which previously faced a valuation between $300,000,000 and $400,000,000 before being acquired out of bankruptcy.

Summary of transaction details:

• Property Type: Land
• Transaction Amount: $65,000,000
• Buyer: Andrew Joblon - Turnbridge Equities
• Lender: Lionheart Strategic Management
• Mortgage Brokers: Adam Doneger, Nick Scribani & Blake Thompson - Newmark
• Address: 79179 Ahmanson Lane
• Market: La Quinta
• Acres: 130

In this transaction, Lionheart Strategic Management provided pre-development financing to support Turnbridge Equities in their intended $735,000,000 first-phase redevelopment project. The debt deal was brokered by Adam Doneger, Nick Scribani, and Blake Thompson from Newmark, highlighting the collaborative efforts of the brokerage team in facilitating this significant acquisition and redevelopment plan.