Acquisition Loan for Mixed-Use Property in Shaver Lake, CA

Deal Details

Private Loan Type

Purchase

Approx. Funding Date

11/25/2021

Property Type

Mixed-Use

Property City

Shaver Lake

Property State

Loan Term (months)

Lien Type

1st Mortgage

Payment Type

Interest Only

Loan-to-Purchase Price

55%

Borrower's Contribution to Purchase

45%

Source of Borrower's Contribution

Cash

Exit Strategy

Refinance

Deal Highlights

Property was vacant & vacancies generally lead to a difficult time acquiring conventional financing.

Rubicon is an asset-based lender and only requires physical property as collateral for the loan.

Borrower was able to complete this purchase and secure their investment opportunity.

Deal Summary

Rubicon enabled one of our repeat clients to finance the acquisition of this property located in Shaver Lake, California. This mixed-use property was vacant at the time of the loan – and vacancies generally lead to a difficult time acquiring conventional financing for Borrowers. Luckily, Rubicon is an asset-based lender and only requires the physical property as collateral for the loan, which allowed our Borrower to complete this purchase and secure their investment opportunity. Our borrower plans to spend some time renovating the property before finalizing leases with new tenants and refinancing through conventional channels to pay off the obligation to Rubicon. This purchase bridge loan was funded in November 2021.