Rancho Mirage Ritz-Carlton Sold At Foreclosure Auction

Rancho Mirage Ritz-Carlton Sold At Foreclosure Auction
The Ritz-Carlton resort in Rancho Mirage has been sold at a foreclosure auction, according to its buyer on Tuesday. Rancho California Investments, an affiliate of Gencom Group and Magna RE, bought the Ritz-Carlton at a foreclosure auction on Jul. 8. The company says when the resort opens, more than 400 jobs are expected to be created, as well as 500 construction jobs during the course of the …

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