Citi has provided $210 million in refinancing for Trinity Investments’ 531-key luxury hotel in Southern California’s Coachella Valley.

JLL Capital Markets arranged the five-year, floating-rate, single-asset, single-borrower commercial mortgage-backed securities loan for the Grand Hyatt Indian Wells Resort & Villas. The financing comes after a $62 million renovation and conversion of the property to the Grand Hyatt brand in 2024.

The 45-acre resort is at 44600 Indian Wells Lane in Indian Wells in Riverside County, about 20 miles southeast of Palm Springs. The property features 449 guestrooms, 39 suites and 43 villas, as well as more than 88,000 square feet of indoor and outdoor meeting and event space.

The resort also includes nine swimming pools, a water park, a 30,000-square-foot spa, six restaurants and bars, and tennis and pickleball courts.

Kevin Davis, Americas CEO of JLL’s hotels and hospitality group, said that recently renovated resorts are attracting more lenders.

“The hospitality financing market has shown meaningful momentum this year, with lenders focusing capital on repositioned assets with institutional sponsorship in markets where supply constraints support sustained performance,” Davis said in a statement.

JLL’s Mike Huth and Jade Lewin arranged the financing with Davis.

Miami-based Trinity specializes in acquiring, repositioning and operating hotels and resorts, and has deployed more than $10 billion across the United States, Mexico, Europe and Japan.

Gregory Cornfield can be reached at gcornfield@commercialobserver.com.