Victorville, CA

$2,200,000

Hotel

Refinance

10/15/2013
Transaction by
Wilshire Quinn Capital, Inc.
In October 2013, the Wilshire Quinn Income Fund financed a $2.2M bridge loan to cash out equity on a flagged hotel in Victorville, San Bernardino County, CA. The Borrower needed to cash out equity for working capital. We paid off the existing 1st mortgage balance and provided the hotel owner with the cash out funds in a timely manner. The hotel was appraised for $4.65M so the total loan-to-value on this bridge loan was just under 48%.