Shopoff Realty Investments has successfully completed the sale of Date Palm Interiors, a fee simple land interest located within the Desert Princess Community in Cathedral City, California, for $8 million. The land interest includes ground leases on 159 homes situated adjacent to the DoubleTree Hotel.
William A. Shopoff, President and CEO of Shopoff Realty Investments, highlighted the unique aspects of the transaction, stating, “Date Palm Interiors’ structure is part of a complicated network of tribally owned land, which made this a very unique and somewhat overlooked investment by the greater real estate community. Our team was able to show potential buyers the value in this land interest and structure. Coupled with our long-time presence in the Coachella Valley and strong relationship with the Bureau of Indian Affairs, we were able to facilitate a smooth transaction.”
Date Palm Interiors is included in Shopoff’s broader Westkin portfolio, which the firm acquired for $23 million in November 2017. This sale follows the portfolio’s earlier disposition of Cathedral Canyon Business Park in 2022 for $2.9 million. Two remaining assets in the Westkin portfolio—Las Estancias and Falcon Lakes—are currently being marketed for sale.
