Hard Money Loan for Industrial Property in Montclair, California

Rubicon Mortgage Fund, a direct private money lender, funded a $2,100,000 1st lien position equity cash-out loan secured by an office/industrial property in Montclair, San Bernardino County, CA. The Borrower, aiming to expand in the digital advertising sector, plans to launch a digital billboard on Sunset/Hollywood Boulevard in Los Angeles, leveraging the property’s strategic location near a highway and railroad. We used the equity in their commercial property to provide them with the cash needed to invest in their business. The funds will be used for the deployment of digital billboards and other business expansion initiatives. This loan was referred to us by a broker in Miami, which demonstrates Rubicon Mortgage Fund’s nationwide operational reach and stellar reputation. The subject property was in excellent condition and well situated close to Ontario Airport. It is approximately 14,000 square feet on a 4.32-acre lot. The Borrower plans to refinance with a conventional loan as an exit strategy. The loan term was set at 12 months. This CRE hard money loan was funded in May 2024.