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Jones Lang LaSalle Closes Transaction for CA Resort

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.  

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