CATHEDRAL CITY, CALIF. — Calmwater Capital has provided Rhino Investment Group with $20.9 million in short-term, first-mortgage debt for its acquisition of Cathedral City Marketplace, a grocery-anchored retail center in Cathedral City. The 195,000-square-foot shopping center is located in Cathedral City, approximately seven miles southeast of Palm Springs.
Situated on 21 acres at 34091-34351 Date Palm Drive, Cathedral City Marketplace offers parking for 1,093 automobiles. Current tenants include Kroger’s Food 4 Less, Planet Fitness, dd’s Discounts, DJ’s Sports Bar and Subway.
Calmwater’s Larry Grantham, Zach Novatt and DaJuan Bennett originated the loan. The Los Angeles-based JLL Capital Markets team of Jeff Sause, Chad Morgan, Daniel Skerrett and Jalynn Borders arranged the financing.