Private Money Loan for 2 Commercial Properties in the Bay Area

Funded by Rubicon Mortgage Fund, LLC

$6,000,000

Deal Details

Private Loan Type

Refinance

Approx. Funding Date

08/01/2024

Property Type
Industrial
Property City

Oakland

Property State

CA

Loan Term (months)

12

Lien Type

1st Trust Deed

Payment Type

Interest Only

Property Value

$12,000,000

Loan-to-Value

50%

Location Type

Urban

Exit Strategy

Sale

Deal Summary

Rubicon Mortgage Fund, a direct private lender, funded a $6,000,000 first-lien position private mortgage for a major non-profit organization in Oakland, CA. The loan was structured for consolidation, using a combined loan-to-value approach and cross-collateralization. It was secured by two properties: a 35,000-square-foot industrial building on 3 acres and an 8,600-square-foot retail/industrial building on 0.56 acres in San Mateo. The value of both properties was estimated to be around $12,000,000 so our combined loan-to-value was 50%. This financing enabled the non-profit to leverage its real estate assets and access substantial capital for their operations. They plan to exit the loan by selling its Oakland headquarters. This transaction demonstrated Rubicon’s expertise in providing flexible, tailored lending solutions, particularly for non-profit entities. The loan term was set at 12 months. This private money loan was funded in August 2024.

Funded By

Rubicon Mortgage Fund, LLC

Northern California’s Premier Direct Lender | No Appraisal Required

Dealmakers

Vance Hillstrom

CEO

CA DRE Broker Lic. 01908390