Walker & Dunlop Secures $187M Loan for 1,900-Unit Coachella Valley Community

Walker & Dunlop arranged a $160 million loan, with a $27 million re-advance component totaling $187 million, for the construction of Cotino, a Storyliving by Disney master-planned community in Rancho Mirage, Coachella Valley. The development will feature approximately 1,900 residential units, a 24-acre lagoon with Crystal Lagoons technology, a private club, a town center, and various amenities, targeting affluent buyers with homes starting at $2 million and senior residences from the upper $1 million range. The project is led by EC Rancho Mirage Holdings Limited Partnership and its affiliates, with financing provided by Intervest Capital Partners and Builders Capital, and advised by a Walker & Dunlop team. Cotino is marketed as a lifestyle community managed by Disney cast members, merging unique amenities with award-winning homebuilders. While the project promises strong demand based on Disney's brand and the appeal of Rancho Mirage, potential investors are advised to consider execution risks and local market conditions. The community is planned to open its private club this fall and town retail center next year, reflecting its phased development approach.