PALM DESERT, CALIF. — Kam Sang Co. has obtained a $128 million loan for the JW Marriott Desert Springs Resort & Spa in Palm Desert.
JLL’s Hotels & Hospitality Group secured the five-year, fixed-rate, interest-only loan, which Goldman Sachs Bank USA originated. The owner used proceeds to repay the existing loan, which was scheduled to mature in February 2022.
The 884-key hotel underwent a $40 million renovation in early 2020 that resulted in the creation of additional suites and substantial upgrades to all guest rooms. Spanning 286 acres, the resort features five swimming pools; two 18-hole golf courses; a Peter Burwash International Tennis Court; a 47-treatment-room spa facility; an aviary; 35 acres of streams, lakes and cascading waterfalls; a 12,000-square-foot entertainment zone; and more than 234,000 square feet of indoor and outdoor event space.
The resort also offers a broad collection of food and beverage outlets, including T&T Innovation Kitchen, Mikado Japanese Steakhouse, Blue Star Lounge, Rockwood Grill and Aquifer65.
Mike Huth and Shalin Patel of JLL Hotels & Hospitality represented the borrower in the financing.