The popularity of Coachella Music Festival has helped rocket the desert community into an entertainment and retail hub.

Brookfield Infrastructure, an affiliate of Brookfield Asset Management, has committed to fund half of the required initial equity investment, currently estimated to be approximately $613 million.

CRE should see a continuation of good times for at least the next year, and capital should remain available and reasonably priced.

The deal marks the fast growing healthcare real estate investment firm's entrance into the Minnesota marketplace.