Private Money Rehab Loan for Assisted Living Facility in San Diego, California

Funded by Wilshire Quinn Capital, Inc.

$3,625,000

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.

Funded By

Wilshire Quinn Capital, Inc.

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