JOSHUA TREE, California—Thomas Financial Group and Phoenix Lender Services, subsidiaries of Community Bankshares Inc., announced the origination, underwriting, and closing of a $7.5 million USDA Business & Industry (B&I) loan for the refinance of a construction loan to build the Reset Hotel, a hospitality project located five minutes from the north entrance of Joshua Tree National Park.
The loan was originated by TFG and funded by Community Bank & Trust (CB&T), also a subsidiary of CBI. Phoenix Lender Services (PHX), serving as the lender service provider (LSP) for CB&T, supported the underwriting and closing process.
This investment will create and retain over 20 jobs and is projected to generate millions in annual economic activity throughout the Morongo Basin region. The USDA loan was coupled with an $11.2 million CPACE loan as part of the capital stack as well.
Situated on 11.17 acres directly adjacent to the park boundary, the 65-key modular steel-frame hotel will deliver unobstructed views of Joshua Tree National Park.
The Reset Hotel will offer several amenities, including:
- A 1,000-square-foot swimming pool with a surrounding sun deck, private cabanas, and a full-service bar
- A 3,000-square-foot clubhouse with air-conditioned meeting space for corporate events and private functions
- A communal fire pit and lounge area
- An on-site convenience store serving both hotel guests and the local community
“This project represents everything the USDA Business & Industry program was created to support—economic revitalization, job creation, and sustainable development in rural communities,” said Zach Chandler, senior vice president, government guaranteed lending at Thomas Financial Group. “By originating, underwriting, and closing this loan, our team worked hand-in-hand with Reset Hotel to bring a transformative vision to life in one of the country’s most iconic destinations.”
With operations expected to create and retain more than 20 full- and part-time jobs, the Reset Hotel will also stimulate surrounding businesses and bring new energy to the area’s service and tourism sectors.
“Reset Hotel is about creating connections—to the land, to the local culture, to each other, and to ourselves,” said Adam Wininger. “Thanks to the incredible support from Thomas Financial Group, Phoenix Lender Services, and the USDA, we’re building a place that doesn’t just serve travelers—it helps uplift the locals and the region.”
