$1,200,000 Acquisition Loan in Redlands, CA

Rubicon recently funded the acquisition of this land and SFR slated to become a Hilton Tru hotel in the future. This property acquisition includes a non-owner occupied SFR which will be used as a construction office until it has time to be demolished before the project advances. The borrower is an investment group that is experienced with hotel development, and they brought in $1,750,000 to escrow to close.

Loan Amount: $1,120,000

Loan Term: 1 Year

Loan-to-Cost: 40%

Loan Position: First Deed of Trust

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