FINANCED
Marcus & Millichap Capital Corporation Provides $19M Bridge Loan For 9-Golf Course Portfolio In La Quinta
55-955 Pga Boulevard
Other
46,173 SF
46,173 SF
Financed 1 year ago
Summary
Loan
CALIFORNIA
Other
46,173 sqft
A golf course portfolio in La Quinta, consisting of 9 golf courses, has been acquired for a total of $37 million. The portfolio is located at 55-955 Pga Blvd in the La Quinta market. The acquisition took place on January 31, 2020.
Summary of transaction details:
- Property Type: Golf Course
- Transaction Amount: $37,000,000
- Address: 55-955 Pga Blvd
- Market: La Quinta
The loan for this transaction was provided by Marcus & Millichap Capital Corporation. The loan amount was $19,000,000 with a term of 12 months at an interest rate of 8.99%. The landlord of the property is Blackstone.
The broker involved in this deal is Marc Cesarec from the Cesarec Group.
Players
Details
FINANCED
IMAGE: Marc Cesarec @cesarecgroup
DATE: 01/31/2020
ADDRESS: 55-955 Pga Blvd
MARKET: La Quinta
ASSET TYPE: Golf Course
LENDER: Marcus & Millichap Capital Corporation
LANDLORD: Blackstone
BROKER: Marc Cesarec
LOAN AMOUNT: $19,000,000
LOAN TERMS: 12 Month Bridge @ 8.99%
UNITS: 9 (Golf Course Portfolio)
NOTES: $37 million acquisition of golf course portfolio in La Quinta, total of 9 golf courses.View on map
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Address55-955 Pga Boulevard
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