Acquisition of Retail and Industrial Property in Richmond, CA
Rubicon Mortgage Fund, LLC funded a $234,000 hard money short-term loan on a Retail/Industrial property located in Richmond, CA. The purpose of this loan was for Acquisition. The two year loan term will give the client sufficient time to update the property. Rubiconâs loan to cost was 60%. This was the client’s first experience with a hard money lender.
Loan Amount: $234,000
Loan Term: 24 Months
LTC: 60%
Loan Position:Â First Deed of Trust
Recently, Rubicon Mortgage Fund, LLC funded a $1,800,000 loan on a Retail /Commercial property located in Watsonville, CA. The purpose of this loan was for Acquisition. Rubicon also provided funds for some of the Tenant Improvements. Rubiconâs loan to cost was 60%. From start to finish, this loan was funded in approximately two weeks!
Rubicon Mortgage Fund, LLC funded a $340,000 loan on a Commercial Condominium located in Fremont, CA. The purpose of this loan was for our borrower to complete a business acquisition. The one-year loan term will give the client sufficient time to pay off the loan with Rubicon or to refinance with a conventional lender. Rubiconâs total loan to cost on this acquisition was less than 53%. From start to finish, Rubicon funded this loan in less than two weeks!
Rubicon recently funded a refinance in Roseville, CA. Our borrower needed a short-term loan to pay off an existing lender. This loan is secured by a 2,170Âą SQ FT commercial building located in Downtown Roseville. Â
Loan Amount: $200,000
Loan Term: 12 Months
LTV: 60%
Loan Position: First Position Deed of Trust
To learn more about our loan process, click here.Â
Rubicon Mortgage Fund, LLC funded a $1,000,000 Acquisition Short Term Loan for an investment-purpose luxury home in San Jose, CA. The borrower intends to refinance to pay off Rubicon’s loan. Rubicon’s loan is 42% LTC (Loan-to-Cost) with a one-year term.
Loan Amount: $1,000,000
Loan Term: 12 Months
LTC: 42%
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:Â First Deed of Trust
Last month Rubicon Mortgage Fund, funded a $1,200,000 acquisition loan for the purchase of a Berkeley gas station, just north of Oakland.
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The borrower is an experienced real estate developer and brought in $850,000 cash to the deal. The station was vacant at the time of purchase but will soon be leased and operating again. However, the Borrower may redevelop the property in the future and a construction loan will likely pay off Rubicon’s loan.
This 1st deed of trust loan is 60% LTC (loan-to-cost)– the term of the loan is 1 year.
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Loan Amount: $1,200,000
Loan Term: 12 Months
LTC: 60%
First Deed of Trust