Bridge Loan Secured by Palm Desert Office Building and Raw Land

Funded by Wilshire Quinn Capital, Inc.

Palm Desert, CA


Commercial Land, Office


Transaction by
Wilshire Quinn Capital, Inc.
In November 2013, the Wilshire Quinn Income Fund financed a $5.5M bridge loan to cash out equity on a 6,100 square foot office building in Palm Desert. The borrower is a local real estate developer who needed funds to pay for soft costs to entitle/develop his 491-acres of land in Cathedral City. Wilshire Quinn secured a 1st trust deed on the land and cross-collateralized with the office building. The combined appraised value of both properties was approximately $35M so the loan-to-value on this bridge loan was just 16%.