Combined Value Loan of $2.8M in San Jose

Borrower was tenant in a commercial retail building for over 10 years. Owner of building wanted to sell structure and tenant had first right of refusal. Buyer came in and tenant matched the offer but needed Rubicon’s loan to complete transaction. RMF funded $1.575M for business acquisition and cross collateralized property with single family residence – all in San Jose. Loan position is 1st Deed of Trust, 6 months term and Loan to Value is 60%.

Loan Amount: $1,575,000

Loan Term: 6 Months

LTV: 60%

Loan Position: 1st Deed of Trust