Merced Construction Loan Video Walk Through!
Please click the video below to learn more about how Rubicon structured a $1,800,000 construction loan in Merced, CA. Our borrower was planning to obtain a construction loan through a conventional lender. Unfortunately the transaction was declined at the last minute. Rubicon secured a 1st Deed of Trust on the vacant 42,000 square foot building and, within two weeks, provided capital for the borrower to complete tenant improvements. Today, Planet Fitness occupies 21,000 square feet of the gross building area. Best Buy recently signed a lease for the remaining space, but have not yet moved in.
As a direct private lender, Rubicon is able to creatively structure loans to best suit our borrowers needs and fund quickly.
Quote from our borrower: “My experience with Rubicon from the beginning to present has been easy, painless, and extremely comfortable” – P.I.
Loan Amount: $1,800,000
Loan Term: 1 Year
LTC: Less than 50%
Loan Position: First Deed of Trust