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 newly constructed multifamily building in San Diego’s Bankers Hill neighborhood. The borrower, Next Space Development, will use the funds to support lease-up and stabilization efforts.
The property boasts 36 units and is conveniently located just two blocks from Balboa Park and minutes away from downtown San Diego. Spanning 26,501 square feet on a 0.23-acre lot with street-level retail space and underground parking for 21 vehicles.
According to Christopher Garcia, CEO of Wilshire Quinn Capital: “This property holds special significance as it sits only one block away from our headquarters in San Diego.” He added that they have witnessed the transformation of this property during COVID into an impressive building today. As always,”Wilshire Quinn remains dedicated to providing efficient and dependable funding solutions for both current and future clients regardless of market conditions.”
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