Cash-Out Refinance Loan for Retail Building in San Francisco, California

Funded by Rubicon Mortgage Fund, LLC

$5,000,000

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 Highlights

We helped the Borrower pay off an existing lender & provided additional proceeds for business.

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.

Funded By

Rubicon Mortgage Fund, LLC

Northern California’s Premier Direct Lender | No Appraisal Required