A few weeks ago Rubicon Mortgage Fund funded a $1,750,000 short-term loan secured by an automotive industrial property in San Francisco’s SOMA District. The Borrower has operated a successful automotive business at the property for over 2 decades. He needed to cash out some equity for operating capital.

 

We paid off the existing mortgage, and we also placed a lien on the borrower’s home in Woodside which was on the market. The sale of the home will pay down a significant portion of our loan. The LTV on this 1st trust deed loan is around 60%, the term is 2 years.

 

Loan Amount: $1,750,000

Loan Term: 24 Months

LTV: 60%

Loan Position: First Deed of Trust