Citi Bank has provided $210 million in refinancing for the Grand Hyatt Indian Wells Resort & Villas. This 531-room luxury hotel is located in the Coachella Valley in Southern California and is owned by Trinity Investments.
JLL Capital Markets arranged the five-year, floating-rate Commercial Mortgage-Backed Securities (CMBS) loan for the single-asset, single-borrower transaction. The financing follows extensive renovations and the property's conversion to the Grand Hyatt brand, which was completed in 2024 at a cost of $62 million.
Property and Market Details
The 45-acre resort is located at 44600 Indian Wells Lane in Indian Wells, Riverside County, approximately 20 miles south-east of Palm Springs. It features 449 guest rooms, 39 suites, and 43 villas. The offering is complemented by more than 88,000 square feet of indoor and outdoor meeting and event space.
Further amenities at the resort include nine swimming pools, a water park, a 30,000 square foot spa, six restaurants and bars, and tennis and pickleball courts. These facilities underscore the property's luxury appeal.
Momentum in the Hotel Financing Market
Kevin Davis, Americas CEO of JLL's Hotels & Hospitality Group, emphasised that recently renovated resorts are attracting increased interest from lenders. He explained that the hotel financing market has shown significant momentum this year. Lenders are focusing capital on repositioned assets with institutional ownership in markets where supply constraints support sustained performance.
Mike Huth and Jade Lewin of JLL arranged the financing alongside Davis. Miami-based Trinity Investments specialises in the acquisition, repositioning, and operation of hotels and resorts, having invested over $10 billion to date across the United States, Mexico, Europe, and Japan.
- —Property: Grand Hyatt Indian Wells Resort & Villas
- —Lender: Citi Bank
- —Arranging Party: JLL Capital Markets
- —Owner: Trinity Investments
