Wilshire Quinn Issues $12,550,000 Loan on Hotel Portfolio in Laguna Beach, California
SAN DIEGO, Dec. 6, 2023 /PRNewswire/ -- Wilshire Quinn Capital announced Wednesday that its private lending fund, the Wilshire Quinn Income Fund, has provided a $12,550,000 refinance loan on a hotel portfolio in Laguna Beach, California.
The first property is a two-story, 7,070 square-foot boutique hotel, comprised of 14 rooms and 14 parking spaces, with 1,800 square-feet of street level retail.
The second property is a three-story, 24,686 square-foot resort hotel, comprised of 54 rooms, a fitness center and pool, with 54 parking spaces. Both hotel properties are located just one block from the ocean and less than a half mile from downtown Laguna Beach.
"At the core of our bridge lending platform is our commitment to providing swift lending solutions amid tightening liquidity and heightened commercial lending restrictions. This commitment ensures our borrowers escape the delays typical of traditional lenders," said CEO Christopher Garcia.
Wilshire Quinn, a national portfolio bridge lender and debt fund manager based out of San Diego, is well known for its quick loan closings and competitive short-term lending rates.
ABOUT WILSHIRE QUINN
Since 2011, Wilshire Quinn (www.wilshirequinn.com) has provided senior debt financing ranging from $200,000 to $20,000,000 on a variety of property types, including but not limited to: non-owner-occupied residential properties, multi-family properties, condos, hotels, assisted-living facilities, parking lots, office buildings, industrial buildings, and retail centers. Wilshire Quinn works directly with real estate owners and mortgage professionals nationwide.
Wilshire Quinn Income Fund, LLC NMLS # 2282570. Loans are made or arranged by Wilshire Quinn Income Fund, LLC in California pursuant to California Finance Lenders Law license #603J060. Please visit www.nmlsconsumeraccess.org for more licensing information. Mortgage loan products are offered to qualified borrowers for business or commercial purposes only. Financing is subject to certain restrictions and requirements. Rates and terms depend on a variety of factors that may change without notice. Wilshire Quinn Capital, Inc. serves as manager of the Wilshire Quinn Income Fund, LLC. The information above is deemed reliable but is not guaranteed. Nothing contained in the information above is an offer or solicitation for the purchase or sale of any security. Any such offer to purchase securities will be made only through the private placement memorandum, operating agreement, and subscription agreement ("Offering Documents") of the Wilshire Quinn Income Fund, LLC.
Media Contact: Natalie Snyder, 619-872-6000, nsnyder@wilshirequinn.com
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SOURCE Wilshire Quinn Capital, Inc.
