Deal of the Week: Cathedral City Marketplace in Cathedral City, California

by Sara Havlena

November 29, 2024
8:00 am

Calmwater Capital provided short-term first mortgage debt for the acquisition of Cathedral City Marketplace, a 195,000-s.f. grocery-anchored retail center in the greater Palms Springs area. The deal needed a quick close with recently signed leases requiring good news money and time to season the rent roll, which provided some hurdles. Calmwater also had to navigate due diligence and a loan closing as the buyer was completing their own due diligence and simultaneously finalizing their business plan and acquisition. The actual loan collateral evolved and Calmwater had to work hand-in-hand with the sponsor.

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Sara Havlena

Havlena is the editor-in-chief of Crittenden Real Estate magazine and The Crittenden Report: Real Estate Financing, Retail Tenants Report and the Multifamily Report and their respective websites. She has been an editor with Crittenden since 2007 and worked on a variety of real estate publications during her time at the company covering a wide range of topics from restaurant expansion to real estate developers. She has been the lead reporter and editor of Crittenden’s flagship publication, The Crittenden Report, since 2011. She has a degree in Print Journalism from Cal State Fullerton, and resides in Orange County, Calif.

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Deal of the Week: Cathedral City Marketplace in Cathedral City, California

Sara Havlena

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