Wilshire Quinn Capital announced Wednesday that its private lending fund, the Wilshire Quinn Income Fund, has provided a $12,550,000 refinance loan on a hotel portfolio in Laguna Beach, California.
The first property is a two-story, 7,070 square-foot boutique hotel, comprised of 14 rooms and 14 parking spaces, with 1,800 square-feet of street level retail.
The second property is a three-story, 24,686 square-foot resort hotel, comprised of 54 rooms, a fitness center and pool, with 54 parking spaces. Both hotel properties are located just one block from the ocean and less than a half mile from downtown Laguna Beach.
“At the core of our bridge lending platform is our commitment to providing swift lending solutions amid tightening liquidity and heightened commercial lending restrictions. This commitment ensures our borrowers escape the delays typical of traditional lenders,” said CEO Christopher Garcia.
Wilshire Quinn, a national portfolio bridge lender and debt fund manager based out of San Diego, is well known for its quick loan closings and competitive short-term lending rates.