Deal Details
Private Loan Type
Purchase
Approx. Funding Date
04/08/2021
Property Type
Single Family Residence
Property City
Piedmont
Property State
CA
Loan Term (months)
6
Lien Type
1st and 2nd
Payment Type
Interest Only
Loan-to-Value
62.5%
Deal Summary
Rubicon Mortgage Fund, a private lending firm that specializes in asset-based loans, funded a $3,500,000 loan for the acquisition of a single-family residence in Piedmont, CA. The loan from Rubicon enabled our Borrower to purchase the subject property while waiting to sell their existing property as an exit strategy. The loan positions are as follows: 1st deed of trust on the subject property and 2nd deed of trust on the additional collateral. The combined loan-to-value was 62.5%. The loan term was set at 6 months. This bridge loan was funded in April 2021.