Deal Details
Private Loan Type
Refinance
Approx. Funding Date
08/01/2024
Property Type
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.
Dealmakers
Vance Hillstrom
CEO
CA DRE Broker Lic. 01908390