$1,700,000 Acquisition Loan in Los Gatos
As a private debt fund, Rubicon can creatively structure financing solutions to fit each client’s individual needs. In this case, tenants with an option to buy the property chose to exercise their option to purchase the property before the property was available on market. They had just opened their business around 1 year ago, therefore they would not be able to meet the requirements to secure conventional debt. One of the challenges that they had was obtaining conventional financing and qualifying for a conventional loan. Rubicon secured additional collateral to provide a combined loan to value of 56%.
Loan Amount: $1,700,000
Loan Term: 12 months
Loan Position: First on Subject Property, 2nd position on Additional Collateral