Short Term Loan for the Acquisition of a Sacramento, CA Medical Office Building

Last week Rubicon Mortgage Fund provided a $175,000 private money short-term loan for the purchase of a Medical Office Building located in Sacramento, CA. Rubicon’s loan is secured by a 1st Deed of Trust on the office building. The seller of the property is one of Rubicon’s previous borrowers, a Canadian foreign national who used our loan to clean up the property and get it ready for sale (see here)–She found a buyer for her property who was in need of private financing and referred them to Rubicon. Rubicon was able to quickly finance the purchase at 55% LTC (Loan-to-Cost). Rubicon’s loan term is 2 years.

Loan Amount: $175,000

Loan Term: 24 Months

LTC: 55%

Loan Position: First Deed of Trust