$4.2M Construction Loan in Belmont, CA

Located in a prime, busy section of Belmont, borrower requested loan funds to payoff existing debt, provide construction financing for 7-11 store, car wash and remodel of existing gas station. Rubicon funded this $4.2M on land with existing gas station (approximately 22,000 square feet) across street from major transportation hub. Loan to Value is 60%, 1st Deed of Trust and 18 month terms.