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Deal Details
Private Loan Type
Refinance
Approx. Funding Date
09/22/2017
Property Type
Property City
Vista
Property State
CA
Lien Type
1st Mortgage
Payment Type
Interest Only
Loan-to-Value
59%
Building Square Footage
23,800
Lot Acreage
1.5
Deal Summary
Wilshire Quinn Capital, a portfolio bridge lender, funded a $2,215,000 1st lien position bridge loan secured by two medical office properties in Vista, San Diego County, CA. The subject property consists of two medical office buildings comprised of 23,800 square feet and is situated on a 66,700 square foot lot with significant parking. The property was appraised this month for $3,750,000, giving the Wilshire Quinn Income Fund a total loan-to-value of 59 percent on the transaction. We also cross-collateralized an additional commercial property in National City. This refinance bridge loan was funded in September 2017.
Funded By
Wilshire Quinn Capital, Inc.
Bridge Loans for Commercial and Residential Property Nationwide