Deal Details
Private Loan Type
Refinance
Approx. Funding Date
06/29/2021
Property Type
Mixed-Use
Retail
Property City
San Francisco
Property State
CA
Loan Term (months)
12
Lien Type
1st Mortgage
Loan-to-Value
30%
Deal Summary
Rubicon Mortgage Fund, a private lending firm that specializes in asset-based loans, funded a $5,000,000 cash-out refinance loan in 1st lien position for a retail building in San Francisco, CA. Rubicon’s funds enabled the Borrower to pay off an existing lender and provided additional proceeds for business purposes. Rubicon was able to fund quickly and build an interest reserve to cover the monthly payments while the Borrower sought tenants for some of the spaces in this multi-tenant retail building. The loan-to-value was 30%. The loan term was set at 12 months. This cash-out refinance loan was funded in June 2021.