Rubicon added funds to its original acquisition loan by contributing another $650,000 for the additional tenant improvements. The tenant improvements were over $1,200,000. All of the funds by both the borrower and Rubicon were put into escrow upfront and will be distributed with the guidance of a third-party construction control team.
Loan Amount: $650,000
Loan Term: 12 months
Loan Position: 1st Deed of Trust