Refinance Bridge Loan for Strip Center in Santa Clara, California

Funded by Rubicon Mortgage Fund, LLC

$1,700,000

Deal Details

Private Loan Type

Refinance

Approx. Funding Date

06/08/2021

Property Type
Mixed-Use
Property City

Santa Clara

Property State

CA

Loan Term (months)

6

Lien Type

1st Mortgage

Payment Type

Interest Only

Loan-to-Value

55%

Building Square Footage

10,080

Deal Highlights

Client was having a difficult time qualifying for conventional financing due to poor cash flow.
Timing was of the essence as their current loan was coming due.
Rubicon stepped in and provided proper short-term refinancing.

Deal Summary

Rubicon Mortgage Fund, a private lending firm that specializes in asset-based loans, funded a $1,700,000 refinance loan in 1st lien position for a mixed-use property in Santa Clara, CA. The Client was having a difficult time qualifying for conventional financing due to poor cash flow. The timing was of the essence as their current loan was coming due. Rubicon stepped in and provided proper short-term refinancing which included a 12-month interest reserve. The loan enabled the Borrower to stabilize this 10,080-square-foot Strip Center. The loan-to-value was 55%. The loan term was set at 6 months. This refinance bridge loan was funded in June 2021.

Funded By

Rubicon Mortgage Fund, LLC

Northern California’s Premier Direct Lender | No Appraisal Required