$900,000 Investment Acquisition in Stockton, CA

Borrower was completing their 1031 exchange and purchasing a replacement property. Rubicon funded $900,000 towards the acquisition of this 21,645 sf 20-unit apartment building located in Stockton, CA. The borrowers intention is to refinance with conventional debt as an exit strategy. Â At the time of the loan, out of the 20 units in the building, 18 units were occupied.
Loan Amount:Â $900,000
Loan Term: 12Â months
LTV: 60%
Loan Position: 1st Deed of Trust