$650,000 Cash-Out Refinance in Granite Bay, CA
Refinance Cash Out for a Tennis Club Redevelopment in Granite Bay, California
Loan Amount: $650,000
Loan Term: 12 Months
LTV: Under 65%
Lien Position: 1st Deed of Trust
Rubicon Mortgage Fund, LLC closed a $650,000 refinance cash out loan for a tennis club property located in Granite Bay, California. The financing supported an experienced real estate borrower executing a redevelopment plan on a well-located income producing asset that was not eligible for traditional financing at the time of closing.
This transaction shows how a refinance cash out structure can provide liquidity and flexibility for seasoned borrowers looking to reposition a property and unlock long term value.
Property and Investment Overview
The property consists of two parcels totaling approximately three acres and operates as a tennis club and tenant facility. The borrower leases the property to a tennis organization that manages daily operations while generating rental income for ownership.
The location is highly desirable within the Granite Bay market, and the size of the site offers strong redevelopment potential. While the property was operational at acquisition, it had deferred maintenance that prevented conventional lenders from moving forward despite solid fundamentals.
Redevelopment Strategy
The borrower’s plan focuses on revitalizing the property and improving the overall tenant experience. Approximately $200,000 of the refinance cash out proceeds will be used to address deferred maintenance and modernize the facility.
These improvements are expected to enhance the tennis club’s appeal and support higher rental rates over time. As the tenant organization grows and attracts more members, the borrower plans to increase rents year over year to bring income closer to market levels.
This approach allows the property to continue generating cash flow while its long term value is strengthened.
Borrower Experience and Execution
The borrower has an extensive real estate background and is an experienced investor and developer. Their familiarity with redevelopment projects and income producing properties allowed for a streamlined underwriting and closing process.
Because the borrower was seasoned and well capitalized, Rubicon Mortgage Fund, LLC was able to move quickly and provide certainty of execution. Speed was important, as the borrower is actively expanding their real estate portfolio and required dependable financing to stay on track.
Why a Refinance Cash Out Made Sense
Traditional financing was not available due to the property’s condition at the time of acquisition. A private money refinance cash out loan provided the flexibility needed to move forward with improvements without delays tied to bank requirements.
This structure allowed the borrower to access equity, reinvest in the asset, and maintain momentum on the redevelopment plan while continuing to collect rental income.
Exit Strategy
The borrower’s long term goal is to sell the property once improvements are complete and rental income has been increased. The planned exit strategy is to pay off the loan using proceeds from another property sale as part of a broader investment strategy.
Refinance Cash Out Loans With Rubicon Mortgage Fund, LLC
This transaction illustrates how a refinance cash out loan can support redevelopment efforts when traditional lenders are unable to participate. Rubicon Mortgage Fund, LLC specializes in private money loans secured by commercial and specialty real estate throughout California, offering fast and flexible solutions for experienced borrowers.
For investors seeking to reposition assets, unlock equity, and move forward with confidence, a refinance cash out with Rubicon Mortgage Fund, LLC can provide a reliable path forward.
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