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 •
The theme of this year’s ALIS conference was “Don’t Worry, Be Happy.” But, lets face it, there are always going to be some people who aren’t happy unless they are worried about something—whether it’s the Fed potentially raising interest rates or that the price of oil is now too low, threatening to cripple the economies of some foreign nations.