Glen Ivy Hot Springs Resort
$34,000,000 Resort Loan from Life Insurance Company
City: Corona, CA
Loan amount: $34,000,000 / 90% LTC / 1.93x
Lender type: Life Insurance Company
Property type: Resort
Size: 56,783 SF
Transaction description
PSRS arranged Participation Financing on this acquisition of the historical Glen Ivy Hot Springs Resort located in Riverside, CA. This 90% LTC loan ($37MM Total Stack) was placed with a life insurance company correspondent, with life co pricing and certainty of execution. The assets historical good and steady performance, even during tough economic condition, was the main compelling reason for proving this loan.
TRANSACTION ADVISORS
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