Wilshire Quinn Capital announced that its private lending fund, the Wilshire Quinn Income Fund, has provided a $1,750,000 cash-out refinance loan on two properties in Ocean City and Wildwood, New Jersey.
The first property is a historic, mixed-use building located in Ocean City, New Jersey. The 8,000 square-foot property is situated on a .14-acre lot, including 10 parking spaces.
The second property is a single-family residence situated on the shore of Sunset Lake in Wildwood, New Jersey. This property is comprised of 3,325 square-feet, 3 bedrooms and 4 baths, on a .74-acre lot.
The properties appraised collectively for $5,140,000, giving Wilshire Quinn a total loan-to-value ratio of 34 percent on the transaction.
- Property Type : Multi Family
- Loan Type : Bridge Loan
- State : New York
- City : Brooklyn
- Funded Amount : $465,000
