Wilshire Quinn Capital Provides $12.55M Refinance Loan For Laguna Beach Hotel Portfolio
$12,550,000
$374/SF
Building Size
33,556 SF
Asset Type
Hotel
Closing
Dec 7, 2023
AI
The Wilshire Quinn Income Fund, managed by Wilshire Quinn Capital, has provided a $12.55 million refinance loan for a hotel portfolio in Laguna Beach. The portfolio consists of a boutique hotel and a resort hotel, both conveniently located near the ocean. The total square footage of the properties is 33,556, and they have a combined 68 keys.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $12,550,000
- Address: Hotel Portfolio
- Market: Laguna Beach
- Keys: 68
The loan was secured from Wilshire Quinn Capital, with Christopher Garcia acting as their representative. As the CEO of Wilshire Quinn Capital, Garcia emphasizes their commitment to providing swift lending solutions during a time of tightening liquidity and heightened commercial lending restrictions.
Players
Market Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.26%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93