JLL worked on behalf of Trinity Investments to secure the five-year, floating-rate SASB CMBS loan through Citi.
Located in Coachella Valley, the hotel recently completed a $62-million renovation and conversion to the Grand Hyatt flag. The resort features 531 accommodations, including 449 guestrooms, 39 suites and 43 villas. It also offers more than 88,000 sq. ft. of indoor and outdoor meeting and event space.
The resort’s amenity offering includes nine pools, a destination water park with waterslides and a lazy river, a 30,000-sq.-ft. Agua Serena Spa & Wellness center, six food-and-beverage venues, tennis and pickleball courts, a fitness center and preferred access to the adjacent Indian Wells Golf Resort. The villa collection provides private outdoor living areas and dedicated guest services.
The property benefits from a location near the Indian Wells Tennis Garden, Empire Polo Club, El Paseo shopping district, PGA West and numerous luxury residential communities throughout the Coachella Valley. It is approximately 30 minutes from Palm Springs International Airport and benefits from access to major drive-to markets, including Los Angeles, San Diego and Phoenix. The surrounding market is supported by a combination of luxury leisure travel, corporate retreats, championship golf, professional tennis, major music festivals, entertainment venues and affluent seasonal residents.
The JLL team was led by Managing Director Mike Huth and Analyst Jade Lewin, with strategic oversight from Kevin Davis, Americas CEO for the Hotels & Hospitality Group.
“The hospitality financing market has shown meaningful momentum this year, with lenders focusing capital on repositioned assets with institutional sponsorship in markets where supply constraints support sustained performance,” said Davis. “Full-service and resort properties that have undergone significant capital investment in irreplaceable locations continue to attract strong interest from debt providers.”
Huth added, “The combination of a recently transformed flagship resort, institutional sponsorship, and one of the country’s most established leisure destinations made this a compelling financing opportunity. Grand Hyatt Indian Wells benefits from diversified demand drivers throughout the year and an array of amenities and meeting infrastructure that is difficult to replicate in today’s development environment.”
Tags: Hyatt Indian Wells Resort & Villas Mike Huth JLL Capital Markets
