Bridge Loan for Multifamily Property Acquisition in Sacramento, California

Funded by Rubicon Mortgage Fund, LLC


Deal Details

Private Loan Type


Approx. Funding Date


Property Type
Property City


Property State


Loan Term (months)


Lien Type

1st Trust Deed

Payment Type

Interest Only

Purchase Price


Loan-to-Purchase Price


Borrower's Contribution to Purchase


Source of Borrower's Contribution


Location Type


Number of Units


Borrower's Plan

Rehab and Rent

Exit Strategy

Conventional Loan

Deal Highlights

Borrower wants to bring property up to market rent.
Exit strategy is to refinance with a traditional lender upon stabilizing the asset.
Borrower plans to renovate all 60-units as they become vacant.

Deal Summary

Rubicon Mortgage Fund, a direct private money lender, funded a $4,950,000 1st lien position bridge loan for the acquisition of a 60-unit multifamily property in Sacramento, CA. The purchase price was $6,750,000. The Borrower contributed some cash, but the majority of their equity came from the 1031 exchange of another investment property – a 25,000 square foot office building in Sacramento which had an estimated value of $2,000,000. Conventional financing was not an option because the multifamily property had some affordable housing restrictions, and the rents were below market due to the condition of the units. The Borrower plans to upgrade most of the units over a 12 to 18-month period. Once the rents have been increased and the property is stabilized, they plan to refinance into a permanent multifamily loan. The loan term was set at 24 months. This multifamily bridge loan was funded in February 2024. 

Funded By

Rubicon Mortgage Fund, LLC

Northern California’s Premier Direct Lender | No Appraisal Required


Cesar Pena

Senior Director - Producer

CA DRE Lic. 01984871