HFF announces financing for 618-acre land parcel in Rancho Mirage, CA

  

Olga Walsh

SAN DIEGO, CA –– HFF announces financing for a 618-acre, unentitled development site in Rancho Mirage, California.

Working exclusively on behalf of the borrower, an investment partnership led by Clarity Real Estate, the HFF team placed the fixed-rate loan withone of its relationship lenders.  Loan proceeds were used to acquire the property and to facilitate the future entitlement of the site. 

The parcel is bounded by Frank Sinatra Drive, Gerald Ford Drive, Bob Hope Drive and Monterey Avenue just east of Interstate 10 in Rancho Mirage. 

 Nestled among multiple country clubs and golf courses in Rancho Mirage, the property, which is commonly referred to as The Eagle, was once part of and is immediately adjacent to the famed Sunnylands Annenberg Estate. 

  

 Development plans for the property are expected to produce a premier, next-generation community and destination.

The HFF debt placement team representing the borrower included senior director Zack Holderman, director Chris Collins and senior associate Olga Walsh.

“The borrower has tremendous vision for this exceptional site located in the heart of the Palm Desert,” Holderman said.  “The site is poised to be the most highly sought-after destination for residents, hoteliers and commercial tenants in all of Rancho Mirage.”

Holliday GP Corp. (“HFF”) is a real estate broker licensed with the California Department of Real Estate, License Number 01385740.

Chris Collins

Clarity Real Estate is a private equity partnership led by real estate industry professionals focusing on thriving markets primarily in the southern and western United States, with an impressive track record of more than $2 billion of properties since 2011.

HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. 

HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. 

HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF).  For more information, please visit hfflp.comor follow HFF on Twitter @HFF.

 For more information, please contact:

  

hfflp.com Olivia Hennessey Public Relations Specialist 9 Greenway Plaza Suite 700 Houston ,  TX  77046 T: 713-852-3403 ohennessey@hfflp.com |@|*