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Banking and Finance

EB5 investors set to fund Coachella venture

George Washington Immigration Group aims to provide $65 million in EB-5 financing for Glenroy Coachella LLC.

The funds will be used to finance a portion of the costs of constructing Indigo Coachella, a full-service Indigo Hotel, a brand under the InterContinental Hotel Group umbrella. The resort is projected to open in

Coachella, California, in the spring of 2020.

“We are excited to work with the developers Stuart Rubin and Gary Stiffelman on this notable project in the Coachella Valley,” said Evan Stoopler, the founder of George Washington Immigration Group.

Managing Partner Steven Anapoell added, “This project presents a unique opportunity to bring an upscale resort-style hotel property in close proximity to some of the country’s top cultural experiences.”

Operated by Highgate, the 300-key Indigo Coachella will be the first upscale resort destination in Coachella, with close proximity to the Coachella Valley Music and Arts Festival.

Upon its completion, the resort will offer guests upscale accommodations, curated amenities and signature services including the largest pool in the desert at 10,000 s/f. It will have private cabanas, a built-in catwalk, poolside restaurant and bar, and an attached DJ booth and event space.

The resort’s pool complex will be able to transform into an event venue for splash parties and there will also be a ten-acre concert area.

“We are enthusiastic to help to fulfill an unmet need in the market and have full confidence in the GW team,” said Stuart Rubin, one of the project’s developers.

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