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Deal Details
Private Loan Type
Purchase
Approx. Funding Date
12/30/2022
Property Type
Property City
Livermore
Property State
CA
Loan Term (months)
12
Lien Type
1st Trust Deed
Payment Type
Interest Only
Loan-to-Purchase Price
50%
Property Neighborhood
Livermore
Building Square Footage
3,400
Deal Summary
Rubicon Mortgage Fund, a private lending firm that specializes in asset-based loans in the Bay Area, funded a $3,475,000 bridge loan in 1st lien position for the acquisition of a Chevron gas station in Livermore, CA. Rubicon funded 50% of the purchase price, and the Borrower contributed 50% cash to the closing. The acquisition included both the station business and the real estate. The building on the property is approximately 3,400 square feet. Certainty to close was especially important to the Borrower who had a hard deadline to meet. Rubicon was able to meet the deadline and fund on time! The loan term was set at 12 months. This CRE bridge loan was funded in December 2022.
Funded By
Rubicon Mortgage Fund, LLC
Northern California’s Premier Direct Lender | No Appraisal Required