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Deal Details
Private Loan Type
Purchase
Approx. Funding Date
07/15/2021
Property Type
Mixed-Use
Retail
Property City
Alameda
Property State
CA
Lien Type
1st Mortgage
Payment Type
Interest Only
Source of Borrower's Contribution
Cash
Building Square Footage
3,900
Deal Summary
Rubicon Mortgage Fund, a private lending firm that specializes in asset-based loans, funded a $950,000 loan for the acquisition of a mixed-use retail building located in Alameda, CA. The Client was working with an SBA lender and the loan was pushed back a few weeks, which made it difficult for them to close the transaction. Our referring broker coordinated a close with Rubicon and then began assisting the borrower on a takeout loan with the SBA lender. The subject property was approximately 3,900 square feet. This bridge loan was funded in July 2021.
Funded By
Rubicon Mortgage Fund, LLC
Northern California’s Premier Direct Lender | No Appraisal Required