Wilshire Finance Partners
Irvine, CA
DRE# 01523207, DPFI# 603K729, DPFI# 603K726, DPFI# 60DB0-99184, DPFI# 603K725
Small Balance Commercial Real Estate Bridge Loans
Wilshire Finance Partners is a direct portfolio lender funding bridge loans up to $10MM secured by multifamily (5+ units) and commercial real estate nationwide. We can accommodate special situations including reverse 1031 exchanges, repositioning loans, rehabilitation loans, debt restructuring, discounted payoffs, and other situations and opportunities.
We DO NOT Lend on: Land, Development, Ground Up Construction, Retail, Hospitality, Special Purpose properties, Rural or Tertiary.
Senior Bridge Loans: Our maximum LTC is 75%.
2nd Mortgages: LTV 65% to 80% behind Wilshire or institutional 1st lien.
Property Geographic Area Details
Nationwide except Alaska
Loan Amounts
$1,000,000 to $10,000,000
Interest Rates
8.9% to 11.9%
Loan Terms
6 months to 60 months
Origination Fees
1% to 1.5%
Lien Position
1st, 2nd
Maximum Leverage
Purchase Short-Term (no Value-Add)
Max LTP Commercial: 75%
Purchase Long-Term
Max LTP Residential: 75%
Max LTP Multifamily: 75%
Max LTP Commercial: 75%
Refinance Short-Term (no Cash Out)
Max LTV 1st Lien Multifamily: 75%
Max CLTV 2nd Lien Multifamily: 80%
Max LTV 1st Lien Commercial: 75%
Max CLTV 2nd Lien Commercial: 80%
Refinance & Cash Out Short-Term
Max LTV 1st Lien Multifamily: 75%
Max LTV 1st Lien Commercial: 75%
Multifamily Value-Add
Max LTP: 75%
Max LTC: 75%
Max LTARV: 65%
Commercial Value-Add
Max LTP: 75%
Max LTC: 75%
Max LTARV: 65%
CRE Bridge Loans: First Lien
Seniors Housing and Healthcare Real Estate
Age Restricted Housing
- Loan Amount: $1,000,000 to $10,000,000
- Term: Up to 5 Years
- Rate: Fixed or Variable
- Loan-To-Cost (LTC): Up to 70%
- Loan-To-Value “Stabilized” (SLTV): Up to 65%
- Purpose: Purchase, Rate and Term Refinance, Cash Out Refinance
- Geographic Location: Nationwide
- Recourse: Case by Case
Assisted Living (with or without Memory Care)
- Loan Amount: $1,000,000 to $10,000,000
- Term: Up to 5 Years
- Rate: Fixed or Variable
- Loan-To-Cost (LTC): Up to 70%
- Loan-To-Value “Stabilized” (SLTV): Up to 65%
- Purpose: Purchase, Rate and Term Refinance, Cash Out Refinance
- Geographic Location: Nationwide
- Recourse: Case by Case
Continuing Care Retirement Communities (up to 20% Skilled Nursing Revenue)
- Loan Amount: $1,000,000 to $10,000,000
- Term: Up to 5 Years
- Rate: Fixed or Variable
- Loan-To-Cost (LTC): Up to 70%
- Loan-To-Value “Stabilized” (SLTV): Up to 65%
- Purpose: Purchase, Rate and Term Refinance, Cash Out Refinance
- Geographic Location: Nationwide
- Recourse: Case by Case
Independent Living
- Loan Amount: $1,000,000 to $10,000,000
- Term: Up to 5 Years
- Rate: Fixed or Variable
- Loan-To-Cost (LTC): Up to 70%
- Loan-To-Value “Stabilized” (SLTV): Up to 65%
- Purpose: Purchase, Rate and Term Refinance, Cash Out Refinance
- Geographic Location: Nationwide
- Recourse: Case by Case
Medical Office – Multi tenant
- Loan Amount: $1,000,000 to $10,000,000
- Term: Up to 5 Years
- Rate: Fixed or Variable
- Loan-To-Cost (LTC): Up to 70%
- Loan-To-Value “Stabilized” (SLTV): Up to 65%
- Purpose: Purchase, Rate and Term Refinance, Cash Out Refinance
- Geographic Location: Nationwide
- Recourse: Case by Case
Specialty Medical Office – Single Tenant Investment or Owner User
- Loan Amount: $1,000,000 to $10,000,000
- Term: Up to 3 Years
- Rate: Fixed or Variable
- Loan-To-Cost (LTC): Up to 70%
- Loan-To-Value “Stabilized” (SLTV): Up to 65%
- Purpose: Purchase, Rate and Term Refinance, Cash Out Refinance
- Geographic Location: Nationwide
- Recourse: Case by Case
Memory Care Facilities
- Loan Amount: $1,000,000 to $10,000,000
- Term: Up to 5 Years
- Rate: Fixed or Variable
- Loan-To-Cost (LTC): Up to 65%
- Loan-To-Value “Stabilized” (SLTV): Up to 55%
- Purpose: Purchase, Rate and Term Refinance, Cash Out Refinance
- Geographic Location: Nationwide
- Recourse: Case by Case
Commercial Real Estate
Office – Multi tenant
- Loan Amount: $1,000,000 to $10,000,000
- Term: Up to 5 Years
- Rate: Fixed or Variable
- Loan-To-Cost (LTC): Up to 65%
- Loan-To-Value “Stabilized” (SLTV): Up to 60%
- Purpose: Purchase, Rate and Term Refinance, Cash Out Refinance
- Geographic Location: Nationwide
- Recourse: Case by Case
Office – Single tenant
- Loan Amount: $1,000,000 to $10,000,000
- Term: Up to 5 Years
- Rate: Fixed or Variable
- Loan-To-Cost (LTC): Up to 65%
- Loan-To-Value “Stabilized” (SLTV): Up to 60%
- Purpose: Purchase, Rate and Term Refinance, Cash Out Refinance
- Geographic Location: Nationwide
- Recourse: Case by Case
Retail – Multi tenant
- Loan Amount: $1,000,000 to $10,000,000
- Term: Up to 5 Years
- Rate: Fixed or Variable
- Loan-To-Cost (LTC): Up to 60%
- Loan-To-Value “Stabilized” (SLTV): Up to 55%
- Purpose: Purchase, Rate and Term Refinance, Cash Out Refinance
- Geographic Location: Nationwide
- Recourse: Case by Case
Retail – Single tenant
- Loan Amount: $1,000,000 to $10,000,000
- Term: Up to 5 Years
- Rate: Fixed or Variable
- Loan-To-Cost (LTC): Up to 60%
- Loan-To-Value “Stabilized” (SLTV): Up to 55%
- Purpose: Purchase, Rate and Term Refinance, Cash Out Refinance
- Geographic Location: Nationwide
- Recourse: Case by Case
Self Storage
- Loan Amount: $1,000,000 to $10,000,000
- Term: Up to 5 Years
- Rate: Fixed or Variable
- Loan-To-Cost (LTC): Up to 65%
- Loan-To-Value “Stabilized” (SLTV): Up to 60%
- Purpose: Purchase, Rate and Term Refinance, Cash Out Refinance
- Geographic Location: Nationwide
- Recourse: Case by Case
Warehouse / Light Industrial
- Loan Amount: $1,000,000 to $10,000,000
- Term: Up to 3 Years
- Rate: Fixed or Variable
- Loan-To-Cost (LTC): Up to 70%
- Loan-To-Value “Stabilized” (SLTV): Up to 60%
- Purpose: Purchase, Rate and Term Refinance, Cash Out Refinance
- Geographic Location: Nationwide
- Recourse: Case by Case
Multifamily Real Estate
Multifamily / Apartments (5+ Units)
- Loan Amount: $500,000 to $10,000,000
- Term: Up to 5 Years
- Rate: Fixed or Variable
- Loan-To-Cost (LTC): Up to 75%
- Loan-To-Value “Stabilized” (SLTV): Up to 70%
- Purpose: Purchase, Rate and Term Refinance, Cash Out Refinance
- Geographic Location: Nationwide
- Recourse: Case by Case
Student Housing
- Loan Amount: $1,000,000 to $10,000,000
- Term: Up to 3 Years
- Rate: Fixed or Variable
- Loan-To-Cost (LTC): Up to 70%
- Loan-To-Value “Stabilized” (SLTV): Up to 65%
- Purpose: Purchase, Rate and Term Refinance, Cash Out Refinance
- Geographic Location: Nationwide
- Recourse: Case by Case
Mixed-Use (Residential and Office or Retail)
- Loan Amount: $1,000,000 to $10,000,000
- Term: Up to 5 Years
- Rate: Fixed or Variable
- Loan-To-Cost (LTC): Up to 70%
- Loan-To-Value “Stabilized” (SLTV): Up to 65%
- Purpose: Purchase, Rate and Term Refinance, Cash Out Refinance
- Geographic Location: Nationwide
- Recourse: Case by Case
Bridge Loans: Second Lien
Seniors Housing and Healthcare Real Estate
Age Restricted Housing
- Loan Amount: $500,000 to $3,000,000
- Term: Up to 3 Years
- Rate: Fixed
- Loan-To-Cost (LTC): Up to 80%
- Loan-To-Value “Stabilized” (SLTV): Up to 65%
- Purpose: Purchase, Rate and Term Refinance
- Geographic Location: Nationwide
- Recourse: Required
Assisted Living (with or without Memory Care)
- Loan Amount: $500,000 to $3,000,000
- Term: Up to 3 Years
- Rate: Fixed
- Loan-To-Cost (LTC): Up to 80%
- Loan-To-Value “Stabilized” (SLTV): Up to 65%
- Purpose: Purchase, Rate and Term Refinance
- Geographic Location: Nationwide
- Recourse: Required
Continuing Care Retirement Communities (up to 20% Skilled Nursing Revenue)
- Loan Amount: $500,000 to $3,000,000
- Term: Up to 3 Years
- Rate: Fixed
- Loan-To-Cost (LTC): Up to 80%
- Loan-To-Value “Stabilized” (SLTV): Up to 65%
- Purpose: Purchase, Rate and Term Refinance
- Geographic Location: Nationwide
- Recourse: Required
Independent Living
- Loan Amount: $500,000 to $3,000,000
- Term: Up to 3 Years
- Rate: Fixed
- Loan-To-Cost (LTC): Up to 80%
- Loan-To-Value “Stabilized” (SLTV): Up to 65%
- Purpose: Purchase, Rate and Term Refinance
- Geographic Location: Nationwide
- Recourse: Required
Medical Office – Multi tenant
- Loan Amount: $500,000 To $3,000,000
- Term: Up to 3 Years
- Rate: Fixed
- Loan-To-Cost (LTC): Up to 80%
- Loan-To-Value “Stabilized” (SLTV): Up to 65%
- Purpose: Purchase, Rate and Term Refinance
- Geographic Location: Nationwide
- Recourse: Required
Commercial Real Estate
Warehouse / Light Industrial
- Loan Amount: $500,000 to $3,000,000
- Term: Up to 3 Years
- Rate: Fixed
- Loan-To-Cost (LTC): Up to 80%
- Loan-To-Value “Stabilized” (SLTV): Up to 60%
- Purpose: Purchase, Rate and Term Refinance
- Geographic Location: Nationwide
- Recourse: Required
Self Storage
- Loan Amount: $500,000 to $3,000,000
- Term: Up to 3 Years
- Rate: Fixed
- Loan-To-Cost (LTC): Up to 80%
- Loan-To-Value “Stabilized” (SLTV): Up to 60%
- Purpose: Purchase, Rate and Term Refinance
- Geographic Location: Nationwide
- Recourse: Required
Multifamily Real Estate
Multifamily / Apartments (5+ Units)
- Loan Amount: $500,000 to $3,000,000
- Term: Up to 3 Years
- Rate: Fixed
- Loan-To-Cost (LTC): Up to 80%
- Loan-To-Value “Stabilized” (SLTV): Up to 70%
- Purpose: Purchase, Rate and Term Refinance
- Geographic Location: Nationwide
- Recourse: Required
Mixed-Use (Residential and Office or Retail)
- Loan Amount: $500,000 to $3,000,000
- Term: Up to 3 Years
- Rate: Fixed
- Loan-To-Cost (LTC): Up to 80%
- Loan-To-Value “Stabilized” (SLTV): Up to 70%
- Purpose: Purchase, Rate and Term Refinance
- Geographic Location: Nationwide
- Recourse: Required
Student Housing
- Loan Amount: $500,000 to $3,000,000
- Term: Up to 3 Years
- Rate: Fixed
- Loan-To-Cost (LTC): Up to 80%
- Loan-To-Value “Stabilized” (SLTV): Up to 70%
- Purpose: Purchase, Rate and Term Refinance
- Geographic Location: Nationwide
- Recourse: Required
Property Types
- Assisted Living Facility
- Commercial Condominium
- Healthcare
- Industrial
- Mixed-Use
- Mobile Home Park
- Multifamily
- Portfolio of Commercial Properties
- Senior Housing
- Storage Facility
- Student Housing
Loan Types
- Multifamily Bridge
- Multifamily Rehab
- Commercial Bridge
- Commercial Property Value Add
Specialty Loan Types
- Bankruptcy Resolution
- Commercial Permanent Financing
- Discounted Note Payoff
- Partner Buyout
- Reverse 1031 Exchange
Junior Lien Loan Amounts
$500,000 to $2,500,000
Junior Lien Interest Rates
11.9% to 13.9%
Junior Lien Loan-to-Value
75%
Junior Lien Origination Fees
1.5% to 3%
We Fund Junior Position Loans
Rarely
Junior Lien Types
- Purchase
- Refinance
- Equity Cash Out
- Mezzanine
We offer junior liens up to 75% combined LTV (CLTV) on purchases. We offer equity cash out junior liens up to 65% combined LTV (CLTV). The 1st mortgage must be held by Wilshire, a bank, or an institutional lender. We will not provide a 2nd behind another private lender. The term of the junior lien will range from 1-3 years.
Syndicated equity is permissible. Limited seller financing considered on a case-by-case basis (generally less than 10%). Sponsor at-risk capital is required in each transaction.
Max Loan-to-Purchase Price
75%Borrower Must Have Property Under Contract
yesWill Provide Proof of Funds Letter
yesWill Consider Lending on Purchase from Auction
yesAllowed Source of Borrower’s Equity
- Own Cash
- Partner
- Equity in Another Investment Property
- Seller Financing
Value add and opportunistic acquisitions of multifamily (5+ units), commercial real estate and senior housing facilities. Capital improvements limited to 20% of the principal balance of the loan. No gut rehabs or major construction.
Experience Required
yesMinimum Number of Value-Add Projects Completed by Borrower
0Will Provide Funds for Renovation Costs
yesMax LTC for Renovation Costs
75%Interest Charged for Renovation Costs
Only on Funds DrawnTypical Number of Days for Funds Draw
5Maximum After Repair Value
65%Deposit Required
The required deposit is determined by the estimated costs for due diligence, 3rd party reports and legal costs. A line item disclosure of the deposit is provided in the Letter of Intent.
Site Visit Fee
The fee is driven by the actual costs of the site visit and disclosed in the Letter of Intent.
Underwriting Fee
Based on loan amount requested
Documents Fee
Legal fees; including cost of loan document preparation.
Settlement Fee
Legal fees; including actual cost of title, escrow/settlement agent, recording, taxes and other similar costs.
Inspection Fee
Actual cost of 3rd party reports, if required.
Escrow Fee
Actual cost of escrow agent services.
Title Fee
Actual cost of ALTA Lender's Policy with endorsements.
Credit Report Fee
Actual cost of credit reports for borrowers, sponsors and guarantors.
Extension Fee
Cost of extension, if any, per the loan documents.
Exit Fee
Generally, no exit fee. Cost of the exit fee, if any, per the loan documents.
Appraisal Fee
Actual cost of 3rd party appraisal
Environmental Report Fee
Actual cost of desktop environmental report on all loans. Actual cost of Phase I or other environmental reports, as required.
Renovation Construction Draw Fee
$Collateral monitoring fee plus cost of 3rd party inspections.
Fees which are mandatory for all new borrower clients
- Deposit
- Due Diligence Fee
- Site Visit Fee
- Underwriting Fee
- Documents Fee
- Legal Fee
Fees which are paid to a third party company
- Documents Fee
- Legal Fee
- Settlement Fee
- Appraisal Fee
- Inspection Fee
- Escrow Fee
- Title Fee
- Credit Report Fee
- Background Check Fee
- Environmental Report Fee
- Renovation or Construction Funds Draw Fee
Contact Wilshire Finance Partners
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Proven, Professional, Performance®
Formed in 2008, Wilshire Finance Partners, Inc. (“Wilshire”) is a direct portfolio bridge lender that funds loans secured by multifamily (5+ units), commercial real estate, and senior housing facilities.
Wilshire uses its balance sheet to deliver fast and efficient closings.
- Property Types
- Apartment / Multifamily (5+ units)
- Mixed Use
- Self-storage
- Warehouse/Light industrial
- Senior Living
- Healthcare Real Estate/Medical Office Buildings
- No land, development, ground up construction, rural, or tertiary markets
- Transaction Types
- Purchase
- Refinance
- Cash Out Refinance
- Stabilization
- 1031 Exchange (forward and reverse)
- Special Situation Lending (e.g. debt restructuring, discounted payoffs and others)
Wilshire Finance Partners, Inc., CA DRE Lic. 01523207 and CA DPFI Lic. 603K729; WFP Income Fund, LLC, CA DPFI Lic. 603K726; WFP Income Fund REIT, LLC, CA DPFI Lic. 60DB0-99184; WFP Opportunity Fund, LLC, CA DPFI Lic. 603K725
Associations
- Mortgage Bankers Association
- California Mortgage Bankers Association
- California Mortgage Association
Office Locations
2 Venture, Irvine, CA 92618Our Team
Don Pelgrim
CEO
CA DRE Broker Lic. - 00944722
Contact Wilshire Finance Partners
Wilshire Finance Partners pays us to be listed, so there is no fee to connect with them directly.
Stay Informed About Private Lending
Receive our monthly newsletters with valuable insights and industry updates
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BEFORE YOU CONTACT THIS LENDER
Our Minimum Loan Amount Is
$1,000,000
What We Do
- Multifamily and Commercial Real Estate Bridge Loans
- Senior Housing/Senior Living/Assisted Living/Memory Care
- 2nd Mortgages up to $2.5M
- Rehab Value-Add Projects
- Primary and Secondary Markets Nationwide
Not Available
- NO Land Loans
- NO Ground-Up Construction
- NO Residential Properties
- NO Rural Areas or Tertiary Markets
- NO Skilled Nursing Facilities