Wilshire Quinn Issues $10.675M Loan on Historical May Company Building
SAN DIEGO, Nov. 5, 2021
SAN DIEGO, Nov. 5, 2021 /PRNewswire/ -- Wilshire Quinn Capital announced Friday that its private lending fund, the Wilshire Quinn Income Fund, has provided a $10,675,000 refinance loan on a 199,860 square-foot commercial building in Los Angeles, California.
The six-story property, known as the May Company Garage Building, is located in the heart of the Jewelry District in Downtown Los Angeles. The property has three levels of subterranean parking, with a total of 422 parking spaces, and ground floor retail space.
Wilshire Quinn, a national portfolio bridge lender and debt fund manager based out of San Diego, funded the loan in less than 10 days.
"The fundamental element of our bridge lending platform is speed. Our borrowers don't have time for delayed closings with traditional lenders. Once we've quickly determined that a borrower's goals align with ours, we take immediate action to fund their loan, without the aggravation and uncertainty associated with the typical commercial loan process," said CEO Christopher Garcia.
ABOUT WILSHIRE QUINN
Since 2011, Wilshire Quinn (www.wilshirequinn.com) has provided senior debt financing ranging from $200,000 to $20,000,000 on a variety of property types, including but not limited to: non-owner-occupied residential properties, multi-family properties, condos, hotels, assisted-living facilities, entitled land, parking lots, office buildings, industrial buildings, and retail centers. Wilshire Quinn works directly with real estate owners and mortgage professionals nationwide.
Loans are made or arranged by Wilshire Quinn Income Fund, LLC pursuant to California Finance Lenders Law license #603J060. Wilshire Quinn Capital, Inc. serves as manager of the Wilshire Quinn Income Fund, LLC. The information above is deemed reliable but is not guaranteed. Nothing contained in the information above is an offer or solicitation for the purchase or sale of any security. Any such offer to purchase securities will be made only through the Private Placement Memorandum of Wilshire Quinn Income Fund, LLC.
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SOURCE Wilshire Quinn Capital, Inc.