Jones Lang LaSalle Closes Transaction for CA Resort
Wednesday April 3rd, 2013 - 9:37AM S
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RANCHO MIRAGE, CA—Jones Lang LaSalle's Hotels & Hospitality Group has sourced joint-venture equity from Kam Sang Company resulting in the successful recapitalization of The Ritz-Carlton Resort, Rancho Mirage with Magna Capital.
Upon completion, the project will include 244 guestrooms, meeting and dining facilities with desert views, a 24,000-sq.-ft. destination spa and 16 high-end condominiums.
The resort will also contain 138 Ritz-Carlton Residences, which are expected to be completed within a few years of the hotel's reopening.
Tags: • Hospitality • Sources of Funding •
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