The Robert Green Company has reeled in a $212.2 million mortgage for construction of new lodging buildings that will augment an existing resort, SilverRock Resort and Residences, in La Quinta, Calif., according to George Smith Partners, which brokered the deal.
The three-year loan, funded by Mosaic Real Estate, will back planning and construction for a group of new buildings at the Coachella Valley resort, 50 miles northeast of San Diego. In addition to a planned Montage-branded hotel, which will include 140 rooms, and a Pendry-branded hotel, with 200 rooms, the project will comprise 10 rentable private villas intended for golfing groups, as well as a conference area.