Refinance Loan for Mixed-Use Building in San Francisco, CA

Rubicon Mortgage Fund relieves the Borrowers’ anxiety from the lender’s conventional financing pressure and the threat of additional accrued interest:

• Being past due, the Borrower was getting tremendous pressure from their current lender.
• Due to the short-term leases, the Borrower had difficulty obtaining conventional financing.
• Borrower wanted to avoid additional default interest.

Rubicon Mortgage Fund understood the Borrower’s situation:

• Rubicon recognized that there was already a plan in place to secure longer-term tenants after the completion of the refinance.
• The building has many short-term leases in place making it difficult for the Borrower to obtain conventional financing.
• Rubicon creatively structured a deal to fit the Clients’ needs and refinance their past due loan.
• Understanding the pressure the Borrower was undergoing, Rubicon acted quickly to close the loan.

Now the borrower no longer has to worry about accruing additional default interest and has the time they need to work at stabilizing the property. This refinance bridge loan was funded in October 2021.