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Deal Details
Private Loan Type
Purchase
Approx. Funding Date
01/18/2022
Property Type
Property City
Sacramento
Property State
CA
Loan Term (months)
12
Lien Type
1st Mortgage
Payment Type
Interest Only
Purchase Price
$4,250,000
Loan-to-Purchase Price
50%
Borrower's Contribution to Purchase
50%
Source of Borrower's Contribution
Cash
Lot Acreage
3.5
Deal Summary
Rubicon, a fully integrated real estate company based in Wellesley, Massachusetts, funded a $2,125,000 bridge loan for the acquisition of three undeveloped parcels of commercial land in Sacramento, California. The total size of the 3 parcels is just over 3.5 acres. In addition to the complexity of a land loan, the client needed to close within one month. They contributed a 50% cash down payment to the closing, and we funded the other 50% of the $4,250,000 purchase price. The loan term was set at 12 months. Ultimately, the Client intends to build a Hilton flagged hotel. They will use conventional financing to pay off our private mortgage. This CRE bridge loan was funded in January 2022.
Quote From the Borrower:
“Thanks for your help and all-time outstanding service to make my dreams come true!”
Funded By
Rubicon Mortgage Fund, LLC
Northern California’s Premier Direct Lender | No Appraisal Required