Property Type Commercial
Location Cathedral City, County of Riverside, California
Size 2,096 condominium and business subleases
Status Business plan in process

The Westkin Properties portfolio was acquired in November 2017, and consists of a collection of 2,096 condominium and business subleases, 2,091 of which are individual condominiums in Cathedral City, County of Riverside, California. The business subleases include several resorts in the Palm Springs area along with the 64,166-square-foot Cathedral Canyon Business Park. In addition, the investment includes approximately 57 acres of fee owned land and is set up as a sandwich lease, where the primary party is both a lessee and a lessor (meaning that the party both collects rent and pays rent).