Wilshire Quinn Capital announced on Wednesday that its private lending fund, the Wilshire Quinn Income Fund, has provided a $16.5 million refinance loan for a multifamily property in San Diego. The borrower, Next Space Development, will use the funds to support lease-up and stabilization efforts.
Located in the desirable Bankers Hill neighborhood of San Diego, this newly constructed 36-unit building is just two blocks from Balboa Park and minutes away from downtown. With 26,501 square feet of space on a 0.23-acre lot including street-level retail and underground parking for 21 vehicles.
According to Christopher Garcia, CEO of Wilshire Quinn Capital: “The property’s location is ideal as it sits only one block away from our headquarters here in San Diego.” He further added that they have witnessed this property transform from an empty lot during COVID into an impressive building today. Regardless of any business cycle changes or challenges faced by their clients now or in the future; Wilshire Quinn remains dedicated to providing prompt and dependable funding solutions.
This article was originally published on Connect CRE website.
