Wilshire Quinn Capital announced that its private lending fund, the Wilshire Quinn Income Fund, has provided a $16,500,000 refinance loan for FOURTH AND LAUREL, a brand-new luxury 36-unit multifamily property in San Diego, California.
FOURTH AND LAUREL offers spacious studios, lofts, one & two Bedroom luxury residences feature designer interiors, modern appliances and full access to the rooftop Sky Lounge with its stunning panoramic view. Combined with the close proximity to some of San Diego’s top employers and best restaurants, bars, among other attractions. The luxury residences feature designer interiors with modern appliances, quartz countertops, and private balconies in select units. All residents have full access to the rooftop lounge offering an outdoor kitchen, grill, and fire pit with panoramic bay, park, and city views.
Rudy Medina, who serves as Managing Director of Next Space Development, has specialized in coastal infill residential and mixed-use development projects throughout San Diego County for the last 29 years.
Said Medina, “After utilizing a construction loan to bring our newest project to life, Wilshire Quinn was able to quickly provide the exact short-term lending product we needed to get our building leased up and stabilized before we receive permanent financing.”
Added Wilshire Quinn Capital CEO Christopher Garcia, “The property is a block from our headquarters in San Diego. We have seen the property transform from an empty lot during COVID to the incredible building it is today. Wilshire Quinn remains committed to providing swift and reliable funding solutions for our current and future clients during any type of business cycle.”
Wilshire Quinn, a direct portfolio lender and debt fund manager, specializes in short-term bridge loans. This type of asset-based financing allows borrowers to receive funds secured by real estate. Wilshire Quinn’s streamlined lending process typically results in fundings in five to seven business days.
