COACHELLA RESORT SECURES $65M

Gary Stiffelman and Stuart Rubin’s high-end Coachella resort has secured $65m in EB-5 financing from the George Washington Immigration Group.

The funds will be used to finance a portion of the construction costs of Indigo Coachella Hotel, a brand under the InterContinental Hotel Group umbrella scheduled to open in the spring.

Operated by Highgate, the 300-unit Indigo Coachella will be the first upscale resort destination in the area. The resort will have the largest pool in the desert at 10,000 sq. ft., which can be transformed into an event venue; there will also be a 10-acre concert area.

“We are enthusiastic to help to fulfill an unmet need in the market and have full confidence in the GW team,” Rubin said.

The hotel’s boutiques promise to have the Valley’s largest collection of ready-to-wear sundress, flower crown and combat boot combinations.