Wilshire Quinn Funds $16,025,000 Loan on Hotel Portfolio in Los Angeles, California

SAN DIEGO, June 16, 2022 /PRNewswire/ -- Wilshire Quinn Capital announced Thursday that its private lending fund, the Wilshire Quinn Income Fund, has provided a $16,025,000 refinance loan on two hotels in Los Angeles, California.

The first property is a four-story, 91,978 square-foot Ramada by Wyndham located near Los Angeles International Airport and adjacent to the 405 Freeway.  The hotel is comprised of 167 rooms, fitness center, restaurant and bar, pool, and 209 parking spaces.

The second property is located off Wilshire Boulevard in Korea Town/Wilshire Center, and consists of 56,000 square-feet and 71 rooms.  The independently owned hotel has a full restaurant and conference center, in addition to subterranean parking.

The loan was funded in eight business days after the request for capital was made.

"As liquidity continues to tighten in the capital markets and the commercial lending process becomes even more restrictive, Wilshire Quinn remains committed to providing rapid lending solutions for our clients," CEO and Chief Investment Officer Christopher Garcia said.   

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.

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.

Media Contact: Emily Mesetz, 619-872-6000, [email protected]

SOURCE Wilshire Quinn Capital