The Ritz-Carlton

Ritz-Carlton, Rancho Mirage owners obtain loan extension

21 Oct, 2011

Citing the public's anxiety over the stalled project and a need for more time to understand a new financing scheme, the Rancho Mirage city council voted on Thursday to give a one-month extension on a $20 million loan agreement with hotel owners Rancho California Investments. The owners say that the loan agreement is crucial to securing the roughly $50 million construction loan they need.

Topic : Ritz-Carlton, Rancho Mirage, Construction, Financing
External Source : The Desert Sun

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