Los Angeles, CA

$1,420,000

Assisted Living Facility

Purchase

05/01/2019
Transaction by
Wilshire Quinn Capital, Inc.
Wilshire Quinn Capital provided a $1,420,000 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 ssisted 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.