November 27, 2023
SAN DIEGO, CA – Wilshire Quinn Capital announced Monday 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.
The properties appraised collectively for $24,650,000, giving Wilshire Quinn a total loan-to-value ratio of 51 percent on the transaction.
