{"id":1004171066,"date":"2017-04-03T06:04:34","date_gmt":"2017-04-03T14:04:34","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004171066"},"modified":"2022-12-07T23:23:02","modified_gmt":"2022-12-08T07:23:02","slug":"continental-partners-secures-54m-financing-for-ritz-carlton","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/continental-partners-secures-54m-financing-for-ritz-carlton\/","title":{"rendered":"Continental Partners Secures $54M Financing for Ritz-Carlton"},"content":{"rendered":"

By IvyLee Rosario<\/em><\/p>\n

Rancho Mirage, Calif.<\/strong>\u2014Continental Partners secured $54 million in fixed-rate, non-recourse, interest-only refinancing for the Ritz-Carlton Rancho Mirage, located at 68900 Frank Sinatra Drive in Rancho Mirage, Calif. The financing was arranged by Continental Partners President Mitch Paskover.<\/p>\n

The 244-key luxury resort offers 16,000 square feet of indoor meeting and event space, 25,000 square feet of outdoor venues, a business center, two on-site restaurants and a pool bar, a spa, fitness center and access to local activities such as golf courses and mountain and hiking trails.<\/p>\n

The Ritz-Carlton resort represents one component of a mixed-use project that is being developed in two phases. The first phases included the renovation and conversion of a hotel into a luxury resort and the addition of 16 for-sale residences.<\/p>\n

The sponsor requested an interest only, fixed-rate, non-recourse loan to replace the maturing construction loan to buy out their existing partner in the deal.<\/p>\n

\u201cBy demonstrating the strength of the asset, the market and the sponsor\u2019s business plan, we were able to source a lender that would lower the debt yield below 9.5 percent, providing a loan amount that met the borrower\u2019s objectives,\u201d said\u00a0Paskover, in prepared remarks. \u201cWe also successfully identified a lender that would release the existing condos and Phase II from the new loan.\u201d<\/p>\n

Images courtesy of\u00a0Ritz-Carlton Rancho Mirage<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The luxury resort represents one component of a mixed-use project that is being developed in two phases.<\/p>\n","protected":false},"author":746,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21751,1594,21742,15],"tags":[34392,34731,33329],"class_list":["post-1004171066","post","type-post","status-publish","format-standard","hentry","category-finance","category-hotel","category-los-angeles","category-latest","category-west","tag-continental-partners","tag-mitch-paskover","tag-ritz-carlton"],"acf":[],"yoast_head":"\nContinental Partners Secures $54M Financing for Ritz-Carlton - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/continental-partners-secures-54m-financing-for-ritz-carlton\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Continental Partners Secures $54M Financing for Ritz-Carlton\" \/>\n<meta property=\"og:description\" content=\"The luxury resort represents one component of a mixed-use project that is being developed in two phases.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/continental-partners-secures-54m-financing-for-ritz-carlton\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-04-03T14:04:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T07:23:02+00:00\" \/>\n<meta name=\"author\" content=\"IvyLee Rosario\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/continental-partners-secures-54m-financing-for-ritz-carlton\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/continental-partners-secures-54m-financing-for-ritz-carlton\\\/\"},\"author\":{\"name\":\"IvyLee Rosario\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/f2094ece0e063845f848c7f1c7b84780\"},\"headline\":\"Continental Partners Secures $54M Financing for Ritz-Carlton\",\"datePublished\":\"2017-04-03T14:04:34+00:00\",\"dateModified\":\"2022-12-08T07:23:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/continental-partners-secures-54m-financing-for-ritz-carlton\\\/\"},\"wordCount\":224,\"keywords\":[\"Continental Partners\",\"Mitch Paskover\",\"Ritz-Carlton\"],\"articleSection\":[\"Finance\",\"Hotel\",\"Los Angeles\",\"News\",\"West\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/continental-partners-secures-54m-financing-for-ritz-carlton\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/continental-partners-secures-54m-financing-for-ritz-carlton\\\/\",\"name\":\"Continental Partners Secures $54M Financing for Ritz-Carlton - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"datePublished\":\"2017-04-03T14:04:34+00:00\",\"dateModified\":\"2022-12-08T07:23:02+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/f2094ece0e063845f848c7f1c7b84780\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/continental-partners-secures-54m-financing-for-ritz-carlton\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/continental-partners-secures-54m-financing-for-ritz-carlton\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/continental-partners-secures-54m-financing-for-ritz-carlton\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Continental Partners Secures $54M Financing for Ritz-Carlton\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/f2094ece0e063845f848c7f1c7b84780\",\"name\":\"IvyLee Rosario\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/05\\\/IvyLee_Rosario.jpg?w=67\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/05\\\/IvyLee_Rosario.jpg?w=67\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/05\\\/IvyLee_Rosario.jpg?w=67\",\"caption\":\"IvyLee Rosario\"},\"description\":\"IvyLee Rosario is a Senior Associate Editor for Commercial Property Executive and Multi-Housing News. She has a background in Journalism and joined the team in 2016. She produces the MHN Daily newsletter, manages byline content, oversees the Research Center for both brands and hosts the Multifamily's Top Marketers podcast. Connect with her here\u2014Twitter: @IvyLeeRosario and LinkedIn: https:\\\/\\\/www.linkedin.com\\\/in\\\/ivyleerosario\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/ivyleerosario\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Continental Partners Secures $54M Financing for Ritz-Carlton - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/continental-partners-secures-54m-financing-for-ritz-carlton\/","og_locale":"en_US","og_type":"article","og_title":"Continental Partners Secures $54M Financing for Ritz-Carlton","og_description":"The luxury resort represents one component of a mixed-use project that is being developed in two phases.","og_url":"https:\/\/www.commercialsearch.com\/news\/continental-partners-secures-54m-financing-for-ritz-carlton\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2017-04-03T14:04:34+00:00","article_modified_time":"2022-12-08T07:23:02+00:00","author":"IvyLee Rosario","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/continental-partners-secures-54m-financing-for-ritz-carlton\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/continental-partners-secures-54m-financing-for-ritz-carlton\/"},"author":{"name":"IvyLee Rosario","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/f2094ece0e063845f848c7f1c7b84780"},"headline":"Continental Partners Secures $54M Financing for Ritz-Carlton","datePublished":"2017-04-03T14:04:34+00:00","dateModified":"2022-12-08T07:23:02+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/continental-partners-secures-54m-financing-for-ritz-carlton\/"},"wordCount":224,"keywords":["Continental Partners","Mitch Paskover","Ritz-Carlton"],"articleSection":["Finance","Hotel","Los Angeles","News","West"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/continental-partners-secures-54m-financing-for-ritz-carlton\/","url":"https:\/\/www.commercialsearch.com\/news\/continental-partners-secures-54m-financing-for-ritz-carlton\/","name":"Continental Partners Secures $54M Financing for Ritz-Carlton - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"datePublished":"2017-04-03T14:04:34+00:00","dateModified":"2022-12-08T07:23:02+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/f2094ece0e063845f848c7f1c7b84780"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/continental-partners-secures-54m-financing-for-ritz-carlton\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/continental-partners-secures-54m-financing-for-ritz-carlton\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/continental-partners-secures-54m-financing-for-ritz-carlton\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Continental Partners Secures $54M Financing for Ritz-Carlton"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/f2094ece0e063845f848c7f1c7b84780","name":"IvyLee Rosario","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/IvyLee_Rosario.jpg?w=67","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/IvyLee_Rosario.jpg?w=67","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/IvyLee_Rosario.jpg?w=67","caption":"IvyLee Rosario"},"description":"IvyLee Rosario is a Senior Associate Editor for Commercial Property Executive and Multi-Housing News. She has a background in Journalism and joined the team in 2016. She produces the MHN Daily newsletter, manages byline content, oversees the Research Center for both brands and hosts the Multifamily's Top Marketers podcast. Connect with her here\u2014Twitter: @IvyLeeRosario and LinkedIn: https:\/\/www.linkedin.com\/in\/ivyleerosario\/","url":"https:\/\/www.commercialsearch.com\/news\/author\/ivyleerosario\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004171066","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/746"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004171066"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004171066\/revisions"}],"predecessor-version":[{"id":1004622718,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004171066\/revisions\/1004622718"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004171066"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004171066"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004171066"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}