San Diego, CA

$515,000

Condominium

Refinance

12/15/2014
Transaction by
Wilshire Finance Partners
In December 2014, Wilshire Finance Partners funded a $515K hard money loan secured by a tenant-occupied high-rise condo in San Diego. The Borrower is an experienced real estate investor with a $70MM portfolio. They needed to refinance to pay off a seller carry back loan on short notice. Wilshire was able to fund in just 7 days. The estimated value was almost $800K so the loan-to-value was 65% LTV. The Borrower plans to sell or refinance within 3 years to pay off this loan.