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DRA Advisors & Paragon Commercial Group Secure $30M Loan For Rancho Mirage Retail Property

42-540 Bob Hope Drive
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This Retail property located in CA received a loan of $30,000,000 about 4 years ago. The brokers of the deal were David Milestone, Dustin Stolly, and Jordan (Jordy) Roeschlaub

In a closed property transaction, a retail asset located at 42-540 Bob Hope Drive in Rancho Mirage has been involved. The property boasts a total area of 163,500 square feet and is situated in the Rancho Mirage market. The deal was finalized on 02/25/2020.

Summary of transation details

The loan associated with this transaction amounted to $30,000,000 and features a loan term of 5 years. The property, located at 42-540 Bob Hope Drive, is a retail asset in Rancho Mirage. The deal's brokers were David Milestone, Dustin Stolly, and Jordan Roeschlaub from Newmark Knight Frank. The lenders in this transaction were CIT Bank, while the property's landlords were DRA Advisors and Paragon Commercial Group.

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Deals
  • Location
    540 Bob Hope Drive, Rancho Mirage, CA, USA540 Bob Hope Drive, Rancho Mirage, CA, USA
  • Loan Value
    $30,000,000$30,000,000
  • Asset Type
    RetailRetail
  • Parties
    3 Brokers, 1 Agency, 1 Lender3 Brokers, 1 Agency, 1 Lender

Agents

David Milestone

David Milestone

Deals5
Financed$161M

Dustin Stolly

Dustin Stolly

Deals218
Financed$37.6B

Jordan (Jordy) Roeschlaub

Jordan (Jordy) Roeschlaub

Deals195
Financed$34.6B

Agency

Newmark

Newmark

Agency
Deals3893
Volume$397.4B

CIT Bank

CIT Bank

Lender
Deals16
Volume$ 346.8B

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Deal Summary

LOAN IMAGE: Jordan Roeschlaub & Dustin Stolly DATE: 02/25/2020 ADDRESS: 42-540 Bob Hope Drive MARKET: Rancho Mirage ASSET TYPE: Retail LENDER: CIT Bank LANDLORD: DRA Advisors & Paragon Commercial Group BROKERS: David Milestone, Dustin Stolly & Jordan Roeschlaub - Newmark Knight Frank LOAN AMOUNT: $30,000,000 LOAN TERMS: 5 years SF: 163,500

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42-540 Bob Hope Drive

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