**Walker & Dunlop Arranges $187M Financing for Master-Planned Development in Coachella Valley**
Walker & Dunlop, Inc. has secured $160 million in financing for a master-planned community located in Rancho Mirage, part of California’s Coachella Valley. The loan includes a $27-million re-advance component, bringing the total proceeds to $187 million.
The construction financing was arranged by the Walker & Dunlop Capital Markets team, led by Sean Reimer, along with Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Dustin Stolly, Ari Hirt, and Christopher de Raet. The team advised the borrower, EC Rancho Mirage Holdings Limited Partnership and its affiliates, in securing capital from Intervest Capital Partners and Builders Capital.
The development, named Cotino, is part of the Storyliving by Disney initiative. Once completed, the community is expected to feature roughly 1,900 residential units, a 24-acre lagoon incorporating Crystal Lagoons technology, a voluntary private club, a town center, and numerous lifestyle amenities.
“We are honored to work on this community, a groundbreaking project that blends unique lifestyle amenities and award-winning homebuilders,” said Reimer. “We look forward to seeing this extraordinary community come to life.”
