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Pacific City Bank Provides $19.2M Loan For PGA West Package Deal In La Quinta

55-955 PGA Boulevard
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This Development Site property located in CA received a loan of $19,200,000 about 3 years ago. The broker of the deal was Marc Cesarec

Century Golf Partners, the landlord of the PGA West complex and Citrus Club in La Quinta, California, secured a loan of $19,200,000 from Pacific City Bank. The loan term is set at 5 years with a fixed interest rate of 4.50% and Stepdown Prepay option. The package deal includes nine courses in the PGA West complex, including the renowned Stadium Course designed by Pete Dye. Other courses at PGA West were designed by Arnold Palmer, Jack Nicklaus, Tom Weiskopf, Greg Norman, and Dye himself. The Citrus Club, located in La Quinta, is also part of the package. Marc Cesarec of Cesarec Group served as the broker for this transaction.

Summary of transaction details

  • Property Type: Package Deal
  • Transaction Amount: $19,200,000
  • Loan Terms: 5-Year Fixed at 4.50% with Stepdown Prepay
  • Lender: Pacific City Bank
  • Landlord: Century Golf Partners
  • Broker: Marc Cesarec - Cesarec Group

For nationwide financing of all property types, interested parties can contact Marc Cesarec at (323) 493-8600.

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Deals
  • Location
    55-955 Pga Blvd, La Quinta, CA, USA55-955 Pga Blvd, La Quinta, CA, USA
  • Loan Value
    $19,200,000$19,200,000
  • Asset Type
    Development SiteDevelopment Site
  • Parties
    1 Broker, 1 Agency, 1 Lender1 Broker, 1 Agency, 1 Lender

Agent

Marc Cesarec

Marc Cesarec

Deals4
Financed$65.1M

Agency

Marcus & Millichap

Marcus & Millichap

Agency
Deals7003
Volume$66B

Pacific City Bank

Pacific City Bank

Lender
Deals1
Volume$ 65.1M

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Deal Summary

LOAN IMAGE: Marc Cesarec DATE: 02/16/2021 ADDRESS: 55-955 PGA Blvd. MARKET: Coachella Valley, La Quinta ASSET TYPE: Package Deal LENDER: Pacific City Bank LANDLORD: Century Golf Partners BROKER: Marc Cesarec @CesarecGroup LOAN AMOUNT: $19,200,000 LOAN TERMS: 5-Year Fixed at 4.50% with Stepdown Prepay NOTE FROM BROKER: Nine courses in the sprawling PGA West complex and the Citrus Club in La Quinta, California. PGA West courses include the famed Stadium Course designed by Pete Dye, along with other courses designed by Dye, Arnold Palmer, Jack Nicklaus, Tom Weiskopf and Greg Norman. Contact Marc Cesarec (323) 493-8600 for nationwide financing, all property types.

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55-955 PGA Boulevard

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