$350,000 5-unit apartment in Berkeley
Rubicon provided a rate and term refi on a 5-unit multi-family building in Berkeley, CA. Due to market conditions, conventional underwriting requires tightening. The investment group concluded an 18-month bridge would be a better solution for them to focus on stabilizing the property and refinance in the near future.
Loan Amount: $350,000
Loan Term: 18 Months
Loan Position: First Position Deed of Trust