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Deal Details
Private Loan Type
Purchase
Approx. Funding Date
05/01/2019
Property Type
Property City
Los Angeles
Property State
CA
Lien Type
1st Mortgage
Payment Type
Interest Only
Property Value
$2,275,000
Loan-to-Value
62%
Property Neighborhood
Highland Park
Number of Units
16
Building Square Footage
6,140
Lot Square Footage
9,730
Deal Summary
Wilshire Quinn Capital, a portfolio bridge lender, funded a $1,420,000 1st lien position private money bridge loan for the acquisition of a senior living facility in the Highland Park neighborhood of Los Angeles, California. The Borrower is an experienced assisted living operator who was looking to purchase the property where they had been operating their business. The property is comprised of 6,140 square feet on a 9,730-square-foot lot. The property was recently appraised for $2,275,000, so the total loan-to-value ratio was 62 percent. We also cross-collateralized a 16-unit property in the Mid-Wilshire area of Los Angeles to further secure our loan. This private money loan was funded in May 2019.
Funded By
Wilshire Quinn Capital, Inc.
Bridge Loans for Commercial and Residential Property Nationwide