Rubicon Mortgage Fund recently reaffirmed its commitment to supporting real estate ventures in Northern California by funding a commercial real estate acquisition loan for a multifamily acquisition in the region. In this instance, a loan of $400,000 was secured within a 30-day timeframe. The borrower’s intention is to retain ownership of the four-unit condominium for the long term, aiming to bolster their cash flow over time.

With a strategic vision in mind, the borrower plans to undertake minor renovations within the units to enhance their appeal and consequently elevate rental rates. These renovations consist of new appliances, interior and exterior paint, new carpets, and updated porches. Notably, the exit strategy involves a 1031 exchange sale of another property out of state, demonstrating a prudent approach towards fulfilling financial obligations to Rubicon Mortgage Fund. Upon the sale the net proceeds will go towards paying Rubicon’s loan off in full.

This transaction was initiated through a referral from a respected local commercial real estate broker, underscoring our dedication to collaborating within the Northern California market. Moreover, the borrower brings a wealth of experience as a seasoned investor in the northern California commercial real estate landscape, aligning perfectly with our mission to support local initiatives.

Situated within a larger residential development surrounded by similar condominiums, this four-unit property represents a promising addition to the regional real estate landscape. At Rubicon Mortgage Fund, we take pride in our involvement in commercial real estate acquisition loan’s that contribute to the vibrancy and growth of the northern California market.

Loan Amount: $400,000

Loan Term: 6 Months

LTV: 27%

Loan Position: First Position Deed of Trust