Property Improvement in Santa Cruz

Rubicon funded a $3.1 Million loan to a borrower/owner of a close to 21,000 Square Foot Multi-Tenant building on a leafy downtown street in Santa Cruz. Loan is intended for property improvements on this 34-unit Office Building that also houses a Top-10 Reviewed Italian Restaurant on Yelp. Rubicon’s loan to value is 63%, loan term is 2 years and RMF holds the First Deed of Trust.

 

Loan Amount: $3,100,000

Loan Term: 24 Months

LTV: 63%

Loan Position: 1st Deed of Trust