Acquisition Loan for 4-Unit Mixed-Use Space in Alameda, CA

Funded by Rubicon Mortgage Fund, LLC

$750,000

Deal Details

Private Loan Type

Purchase

Approx. Funding Date

01/12/2022

Property Type
Mixed-Use
Property City

Alameda

Property State

CA

Loan Term (months)

24

Lien Type

1st Mortgage

Payment Type

Interest Only

Loan-to-Purchase Price

60%

Borrower's Contribution to Purchase

40%

Source of Borrower's Contribution

Cash

Number of Units

4

Lot Square Footage

2,976

Deal Summary

Rubicon, a fully integrated real estate company based in Wellesley, Massachusetts, provided the funds needed to secure this investment acquisition located in Alameda, California. Our client was currently leasing the space and had the opportunity to purchase it. The acquisition of this four-unit 2,976 square-foot mixed-use space includes two units above and two below. A 2-year loan term allowed our borrower the time needed to refinance with a conventional lender as a takeout strategy. The loan was made in first position deed of trust at a 60% Loan-To-Cost. Rubicon remains an active lender in the commercial space and will consider loans anywhere in California. This purchase loan was funded in January 2022.

Funded By

Rubicon Mortgage Fund, LLC

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