Deal Details
Private Loan Type
Commercial Property Value Add
Approx. Funding Date
05/14/2019
Property Type
Assisted Living Facility
Property City
San Diego
Property State
CA
Lien Type
1st Mortgage
Payment Type
Interest Only
Property Value
$6,000,000
Loan-to-Value
60%
Property Neighborhood
College East
Building Square Footage
11,000
Lot Square Footage
35,719
Deal Summary
Wilshire Quinn Capital, a portfolio bridge lender, funded a $3,625,000 1st lien position rehab loan for a senior assisted living facility in San Diego, California. The 37-room facility is comprised of 11,000 square feet on a 35,719-square-foot lot. The property is located in the College East neighborhood, approximately one mile from San Diego State University. The property was recently appraised on a completed basis for $6,000,000, resulting in a total loan-to-value of 60%. This CRE private money loan was funded in May 2019.