$1,650,000 Loan for Acquisition in Rancho Cordova, CA
Rubicon recently funded the acquisition of this 12,000 SQ FT Industrial Warehouse located in Rancho Cordova. The borrower was already leasing the space to use as part of his automotive and wrecking yard, and he had the opportunity to purchase it. This loan was completed for a repeat borrower who prefers to utilize Rubicon due to our process being faster and more simple than traditional lenders. Rubicon secured additional collateral in the form of an 8,000 SQ FT industrial warehouse down the street from the purchased property to provide our borrower the requested loan amount.
Loan Amount: $1,650,000
Loan Term: 3 Years
Loan Position: First Position on Purchase Property, Second Position on additional collateral