Berkeley, CA

$1,200,000

Gas Station

Purchase

01/15/2015
Transaction by
Rubicon Mortgage Fund, LLC
In January 2015, Rubicon Mortgage Fund funded a $1,200,000 private money bridge loan for the acquisition of a gas station in Berkeley, just north of Oakland. The purchase price was $2,050,000 and the Borrower brought in over $800,000 cash to the deal. He is an experienced local real estate developer with a great track record. The station was vacant at the time of purchase but will soon be leased and operating again. The Borrower may redevelop the property in the future and a construction loan will likely pay off the loan. The LTC (loan-to-cost) on this 1st trust deed bridge loan is 60%. Although the loan term is 1 year, Rubicon typically offers extension options to our clients.