Citi provided $210 million in refinancing for Trinity Investments' 531-key luxury hotel in Southern California's Coachella Valley, Commercial Observer reported. JLL Capital Markets arranged the five-year, floating-rate, single-asset, single-borrower commercial mortgage-backed securities loan for the Grand Hyatt Indian Wells Resort & Villas.
The refinancing comes after a $62 million renovation and conversion of the property to the Grand Hyatt brand in 2024. The 45-acre resort is located at 44600 Indian Wells Lane in Indian Wells in Riverside County, roughly 20 miles southeast of Palm Springs.
Resort profile and market placement
Across its 45 acres, the property features 449 guestrooms, 39 suites, and 43 villas. The destination also offers more than 88,000 square feet of indoor and outdoor meeting and event space, nine swimming pools, a water park, a 30,000-square-foot spa, six restaurants and bars, and tennis and pickleball courts.
JLL Capital Markets brokers Kevin Davis, Mike Huth, and Jade Lewin arranged the financing with Citi. Davis, the Americas CEO of JLL's hotels and hospitality group, noted that recently renovated resorts are drawing interest from lenders. Davis stated that 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. Trinity Investments, based in Miami, specializes in acquiring, repositioning, and operating hotels and resorts, and has deployed more than $10 billion across the United States, Mexico, Europe, and Japan.
What it changes for a closing
For closing teams managing hospitality loans, executing a single-asset, single-borrower commercial mortgage-backed securities deal on a recently renovated resort requires careful coordination between lender requirements and brand conversion records. Because this $210 million transaction follows a $62 million capital project that transitioned the resort to the Grand Hyatt brand in 2024, closing counsel must ensure that post-renovation operational status, brand covenants, and property condition reports are aligned. Managing a five-year, floating-rate financing for a 531-key property with 45 acres of specialized facilities, such as nine swimming pools, a 30,000-square-foot spa, and more than 88,000 square feet of event space, requires closing parties to document property operating terms and loan mechanics across complex, multi-use resort operations.