Newport Beach, CA

$7,400,000

Commercial Land, Single Family Residence

Refinance

08/15/2016
Transaction by
Wilshire Quinn Capital, Inc.
In August 2016, Wilshire Quinn Capital funded a $7.4MM first trust deed bridge loan secured by 5 residential properties in Southern California. The loan was provided to a seasoned real estate developer in order to complete the construction of two single family residences in Newport Beach. The two properties that were used as primary collateral for the loan are located in the Newport Heights area of Newport Beach. Each home consists of approximately 5,000 square feet and has extensive ocean views. A single family residence in Santa Monica consisting of 3,200 square feet and a 21 acre parcel comprised of 71 lots in Menifee were also used as primary collateral for the loan. The loan was also cross collateralized by a 16,000 square foot lakefront home in Lake Arrowhead, CA.