Marriott Desert Springs Uses $128M Loan to Repay Existing Loan

The JW Marriott Desert Springs Resort & Spa, an 884-key resort in Palm Desert, recently obtained a $128 million loan. The five-year fixed-rate interest-only loan was originated by Goldman Sachs Bank USA. Loan proceeds were used by the owner to repay the existing loan, which was scheduled to mature next month.

The JW Marriott Desert Springs Resort & Spa completed a $40 million renovation in early 2020 resulting in the creation of additional suites and substantial upgrades to all guestrooms, which offer views of the resort, surrounding mountain and desert landscape. Spanning 286 acres, the resort features five swimming pools, two 18-hole championship golf courses, a Peter Burwash International Tennis Center, a 47-treatment room spa facility, an aviary, 35 acres of sparkling streams, lakes and waterfalls, a 12,000-square-foot entertainment zone, and more than 234,000 square feet of indoor and outdoor event space. In addition, the resort offers a broad collection of food and beverage outlets.

JLL’s Hotels & Hospitality Group worked on behalf of the sponsor, Kam Sang Company LLC, to secure the loan.