$875,000 Refinance Loan in Oakland, CA
Recently funded a $875,000 refinance loan in Oakland, CA. This property was originally purchased for $1,380,000 in May of 2022. Our borrowers’ loan had matured, and their interest rate was set to increase along with the accrual of additional fees. Rubicon provided an 18-month term as well as more aggressive pricing between the rate and fee. Loan securitized by a 5,000± SQ FT Industrial building. The building is built out of reinforced concrete and includes one roll up door.
Loan Position: First Deed of Trust.
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