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Wilshire Quinn Capital Provides $16.5M Refinance Loan For Fourth And Laurel Multifamily Property In San Diego
FINANCED
$16,500,000
California
See Similar DealsMultiFamily
Financed 02/14/2024
FINANCED
Wilshire Quinn Capital Provides $16.5M Refinance Loan For Fourth And Laurel Multifamily Property In San Diego
2426 4th Avenue
See Similar DealsMultiFamily
Financed 02/14/2024
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Loan
The Wilshire Quinn Income Fund, under Wilshire Quinn Capital, has provided a $16.5 million refinance loan for FOURTH AND LAUREL, a new luxury multifamily property located at 2426 4th Avenue in San Diego. This property consists of 36 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $16,500,000
- Address: 2426 4th Avenue, San Diego
- Market: San Diego
- Lender: Christopher Garcia - Wilshire Quinn Capital
- Landlord: Rudy Medina - Next Space Development
Rudy Medina of Next Space Development, the landlord, expressed his appreciation for Wilshire Quinn Capital's quick offer of the much-needed short-term lending. Christopher Garcia, the CEO of Wilshire Quinn Capital, highlighted the property's transformation which is in close proximity to their San Diego headquarters.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$16,500,000.00
Monthly NOI$110,000.00
Monthly Debt Service$104,291.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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