Hanford Mall Purchase Loan for property with over 370,000 square of retail space

Loan Amount: $11,500,000

Loan Term: 12 Months

LTC: 44%

Rubicon funded a $11,500,000 loan secured in first position. The purchase price was $26,000,000 making the loan 44% loan-to-cost. The retail property included over 370,000 square feet with dozens of stores including: Cinemark, Ross, Chili’s, Dunkin’ Donuts and Applebee’s. 1 year loan term.