$650,000 Refinance in Belmont, CA
Refinance Loan Secured for Commercial Industrial Flex Property in Belmont
Loan Amount: $650,000
Loan Term: 12 Months
LTV: Under 40%
Lien Position: 1st Deed of Trust
Rubicon Mortgage Fund, LLC recently closed a $650,000 refinance loan on a commercial industrial flex property in Belmont, California. The transaction allowed the borrower to pay off an existing note while also receiving additional funds for property improvements and working capital.
The Commercial Industrial Flex Property
The subject property is a 7,494-square-foot commercial industrial flex building located in one of Belmontâs most desirable industrial corridors. With an estimated value of $2 million, the building represents a low-leverage, high-quality asset for Rubicon.
Flex properties are unique in their design and functionality, often combining industrial, retail, and office uses. This building includes a residential condo on the top floor, two offices and retail space on the ground level, a storage component, and a large yard area that increases its versatility. Multiple zoning designations further enhance the propertyâs adaptability, making it a sought-after asset type for both tenants and investors.
The Borrowerâs Goals
The borrowers originally purchased the property in 2015 and had been managing it for nearly a decade. As the maturity of their seller carry-back note approached, they needed a solution to pay off the existing debt and avoid disruption in ownership. In addition to refinancing the note, they were also seeking capital to invest back into the property.
Rubicon was able to provide $100,000 in cash-out proceeds that will be used for targeted improvements, including painting, HVAC upgrades, and general property cleanup. These updates are expected to improve the buildingâs appeal to future tenants and position it competitively in the market.
Why Rubicon Was the Right Fit
Timing was critical in this transaction. With the note maturity fast approaching and three units currently vacant, traditional bank financing was not a viable option. Instead, Rubicon stepped in with a quick, flexible refinance that closed in less than three weeks.
The referral came through a community bank that recognized Rubiconâs ability to move quickly and provide tailored financing solutions when conventional lenders could not. By acting decisively, Rubicon ensured that the borrower could preserve ownership and secure the funds needed to reinvest in the property.
Location Advantages
The Belmont property benefits from an A+ location, close to San Francisco International Airport and situated within a thriving industrial submarket. Its proximity to SFO is especially valuable for logistics-oriented tenants who require convenient access to transportation hubs. The demand for commercial industrial flex buildings in this area remains strong, further reinforcing the quality of this transaction.
Exit Strategy
The borrower has a clear exit plan in place. By liquidating another asset, they will be able to pay off the Rubicon loan in full. This straightforward strategy provided additional confidence in the success of the deal.
Supporting Owners of Commercial Industrial Flex Properties
This refinance is an example of how Rubicon Mortgage Fund, LLC provides timely, flexible solutions for property owners navigating loan maturities and capital needs. With the ability to close in under three weeks, Rubicon helped the borrower pay off an existing debt, access cash for improvements, and maintain ownership of a well-located, versatile property.
By securing this $650,000 refinance on a commercial industrial flex property in Belmont, Rubicon once again demonstrated its commitment to helping California property owners preserve and enhance their investments.
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