Our borrower was able to get this 3246-square-foot condo in contract for $3,000,000. This seasoned entrepreneur who was also very well qualified put down $1,000,000 and Rubicon provided a $2,000,000 Acquisition Loan in Pacific Heights. During our underwriting, we were able to assess that the purchase was very good for our buyer, and being located in Pacific Heights/Cow Hollow the location is of top quality. The term was 1-year.
Loan Amount: $2,000,000
Loan Term: 12 Months
Loan Position: First Position Deed of Trust