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Posted: June 4, 2019
Outside the Region: Wilshire Quinn provides $3.625 million rehab loan
San Diego, CA According to Wilshire Quinn Capital, Inc., its private lending fund, the Wilshire Quinn Income Fund, has provided a $3.625 million rehab loan.
The 37-room assisted living facility is comprised of 11,000 s/f on a 35,719 s/f lot in the College East neighborhood. The property was appraised on as completed basis for $6 million, giving the Wilshire Quinn Income Fund a total loan-to-value ratio of 60% on the transaction.
“The Southern California assisted living real estate market continues to be in strong demand by investors and we are fortunate to add this loan to our portfolio,” director of business development Matthew Mielke said.
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