$600,000 Investment Acquisition in Palm Springs, CA
Rubicon recently funded this transaction for a long-time, repeat borrower. Our borrower needed cash to secure the acquisition of this non-owner occupied single family residential property located in Palm Springs. The borrower plans to either keep the property as a rental or to sell it in the future.
Loan Amount: $600,000
Loan Term: 12 months
LTC: 62.5%
Loan Position: First deed of trust on all properties
Rubicon recently funded the purchase of a 15,000± square foot multi-tenant industrial building in Glendale, CA. The buyer/borrower occupied much of this building for his automotive wholesale distribution business for the last 20+ years. Rubicon secured an additional four-unit multifamily property in Los Angeles that the borrower owned free and clear as additional collateral. Our diligent in-house underwriting team enabled Rubicon closed ahead of schedule.
“Hi Casey Thank you for all your coaching and support throughout the intricate
process of financing. Your dedication and perseverance made this happen.”
Quote from our Borrower
“Rubicon, thanks for the performance and for the RAPID funding”
Quote from referring Broker
Loan Amount: $4,200,000
Loan Term: 12 months
LTC/LTV: 60%
Loan Position: First deed of trust on both properties
Did you know Rubicon can lend to Trusts and Estates? In this scenario, a repeat borrower contacted Rubicon to assist with a refinance of existing debt while working as a court-appointed interim trustee. As an asset based lender, Rubicon can loan to Trusts and Estates by using the equity in the real property as collateral for the loan.
Loan Amount: $300,000
Loan Term: 12 months
LTC: 50%
Loan Position: 1st Deed of Trustv
The acquisition included both the business and the real estate pictured above. The borrower was up against a tight deadline and Rubicon’s internal underwriting team worked diligently to close in time. One of the benefits to working with an asset-based lender like Rubicon is that we specialize in funding loans when timing is of the essence. Rubicon’s expertise is concentrated on finding, qualifying and financing borrowers in need of unique or non-conventional loans.
Loan Amount: $3,475,000
Loan Term: 12 months
LTC: 50%
Loan Position: 1st Deed of Trust
In business, there are occasionally unforseen circumstances that lead to last minute changes. In this case, the loan was delayed due to environmental inspections This led to amendments on the sale contract and eventually a change to our loan amount. Upon sending out an updated Letter of Intent to our borrower, the loan was closed 1 week later!
Loan Amount: $1,200,000
Loan Term: 24 months
LTC: 50%
Loan Position: 1st Deed of Trust
This loan allowed for the acquisition of nearly 140 acres of vacant land, ready for an equestrian business with barn type buildings. Two other free and clear commercial buildings were used as cross-collateral, all of which were in first position deed of trust.
Loan Amount: $1,600,000
Loan Term: 24 months
CLTV: Under 40%
Loan Position: 1st Deed of Trust on all properties. Additional Collateral located in Union City, CA and Fremont, CA
Above additional collateral located in Fremont, California
Above additional collateral located in Union City, California
The three partners in this deal purchased the property and wanted a long-term loan of 10 years. They had a loan in place at a higher interest rate and they contacted Rubicon looking for a rate and term refinance. Their intent is to pay off in full over time.
Loan Amount: $345,000
Loan Term: 24 months
LTV: 64%
Loan Position: 1st Deed of Trust
$590,000 Acquisition in Walnut Creek CA. Borrower needed a short-term loan to purchase an apartment in Walnut Creek (pictured above) while they wait to sell their Berkeley unit (pictured below). The loan to be paid off in full upon the sale of the Berkeley unit.
Loan Amount: $590,000
Loan Term: 9 months
CLTV: 45%
Loan Position: 1st Deed of Trust on both properties
An investor looking to buy property in California needed a short term loan to complete the acquisition of this investment property. This property is non-owner occupied and will be used as a rental. The client lives out of the country and was running short on time to transfer the funds needed to complete the purchase, and Rubicon funded on time to complete the transaction.
Loan Amount: $400,000
Loan Term: 12 months
LTV: 26%
Loan Position: 1st Deed of Trust
A long time and established repeat borrower with a strong balance sheet needed a quick closing to secure this investment acquisition. The property is located in Sacramento, CA (pictures above), with additional collateral also located in Sacramento (pictured below).
Loan Amount: $905,000
Loan Term: 12 Months
LTC: 60%
Loan Position: 1st Deed of Trust on both properties
Rubicon funded $800,000 towards the acquisition of this gas station in Sacramento for a repeat borrower. Property is a gas station which is triple net leased to a strong credit tenant. The manager of this gas station has over 300 locations and is a seasoned operator. There were some contamination issues on site, but due to the strong nature of the tenant, Rubicon closed on time for the borrower to complete the purchase.
Loan Amount: $800,000
Loan Term: 24 Months
LTC/LTV: 57%
Loan Position: 1st Deed of Trust
Acquisition loan to a repeat borrower in Sacramento, California. Borrower leveraged Rubicon to negotiate a lower purchase price in lieu of a quick close. The home is 6,560 sf situated on 5 acres. The intention is to lease the home once the Rubicon loan is paid off. Until then the property will be kept vacant.
Loan Amount: $1,380,000
Loan Term: 24 Months
LTC: 60%
Loan Position: 1st Deed of Trust