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California  + Inland Empire  + Office  | 

Walker & Dunlop Arranges $25M in Financing for Shopoff Portfolio in Cathedral City

Shopoff Realty Investments, Inc. secured $25 million in financing for the Westkin Portfolio, an 810-acre collection of sub-ground leases with more than 2,000 individual condominiums and businesses in Cathedral City, CA. The portfolio includes subleases for several income-producing companies such as the Desert Princess Country Club, a DoubleTree hotel, the Welk Resort, the Cathedral Canyon Country Club, and an Extra Space self-storage property.

Walker & Dunlop, Inc.’s Mark Strauss and Rob Quarton structured the 20-year, self-amortizing loan on behalf of the property owner. The financing replaces a short-term acquisition bridge loan and facilitates the owner’s business plan, which includes modernizing operations to reduce expenses.

Shopoff Realty Investments, Inc.’s William Shopoff says, “the project has a 40-year history of an uninterrupted stream of payments, as well as appropriate financial incentives to potentially continue for the next 40 years or more.”

For comments, questions or concerns, please contact Dennis Kaiser

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Connect With Shopoff Realty Investments, Inc.’s ShopoffConnect With Walker & Dunlop, Inc.’s Strauss

About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Financing
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