$600,000 Refinance in Oakland, CA
Refinance Loan Helps Oakland Borrower Preserve Ownership of Long-Held Commercial Property
Loan Amount: $600,000
Loan Term: 12 Months
LTV: Under 60%
Lien Position: 1st Deed of Trust
In todayâs lending environment, timing and reliability can make all the difference for a property owner. Recently, Rubicon Mortgage Fund, LLC closed a $600,000 refinance loan on a commercial property in Oakland, helping the borrower avoid a looming deadline and keep ownership of a building they have held for more than a decade.
The Property and Community Impact
The commercial property is a 4,655-square-foot retail storefront divided into four units. Each space is occupied by small, locally run businesses, including hair salons and acupuncture studios. These mom-and-pop shops provide valuable services to the community and are emblematic of the entrepreneurial spirit that gives Oakland its character.
The borrower, who has been deeply involved in the cityâs growth and improvement efforts, values these tenants not just as renters but as contributors to the local neighborhood. By maintaining ownership of the property, the borrower can continue to support these businesses while preserving an important retail hub in a stable part of Oakland.
Why a Refinance Was Needed for this Commercial Property
This refinance request came to Rubicon Mortgage Fund, LLC through a connection established via CCIM, a trusted network in the commercial real estate industry. The borrowerâs existing bank loan was reaching maturity, and they faced a tight deadline, just 15 days until the note came due. With limited time and no option for cash out, the borrower required a lender that could move quickly and reliably.
Rubicon stepped in to refinance the debt, providing a solution that ensured the bank was paid off in time. The refinance was structured as a cash-in refinance, where the borrowerâs plan was to eventually exit the loan by liquidating another business they own.
Quick Turnaround in Just 15 Days
Speed was a critical factor in this deal. Traditional banks often cannot accommodate such short timelines, leaving borrowers in difficult positions. Rubicon, however, is designed to handle time-sensitive funding requests. Within just 15 days, we were able to underwrite, structure, and close the loan, relieving the borrower from the stress of an expiring bank loan.
The borrower shared that from the very first call, they felt confident Rubicon could deliver. That trust proved well-placed, as the refinance was completed in time to preserve ownership of the property. Without this funding, the borrower may have been forced to sell, a loss not only for them but also for the community they have been supporting for years.
A Relationship Built on Trust
At Rubicon, we value long-term relationships with our borrowers. In this case, we are proud to support someone who is equally committed to strengthening Oakland. The borrower expressed their appreciation for the speed, clarity, and professionalism Rubicon provided, emphasizing that the quick closing allowed them to focus on their businesses and tenants rather than worrying about the loan maturity.
Supporting Commercial Property Owners in California
This transaction highlights the importance of private lenders in todayâs market. Whether itâs a refinance to pay off a maturing loan or a purchase loan to secure a new investment, Rubicon Mortgage Fund, LLC has the flexibility and experience to deliver solutions when traditional banks cannot.
By closing this $600,000 refinance on a retail commercial property in Oakland, we helped preserve local ownership, protected small businesses, and reinforced our commitment to helping communities thrive.
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