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Wilshire Quinn Capital Provides $12.55M Refinance Loan For Laguna Beach Hotel Portfolio
FINANCED
$12,550,000
California
See Similar DealsHotel33,556 SF
Financed 12/07/2023
FINANCED
Wilshire Quinn Capital Provides $12.55M Refinance Loan For Laguna Beach Hotel Portfolio
Hotel33,556 SF
Financed 12/07/2023
Summary
Asset Type:Hotel
Price Per Square Foot:$374
Total Square Footage:33,556 SF
Transaction Type:Loan
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
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$12,550,000.00
Monthly NOI$83,666.67
Monthly Debt Service$79,324.54
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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