El Sobrante, CA

$570,000

Industrial, Retail

Refinance

02/28/2015
Transaction by
Rubicon Mortgage Fund, LLC
In February 2015, Rubicon Mortgage Fund funded a $570,000 bridge loan secured by a mixed-use retail / industrial property in El Sobrante, Contra Costa County. The Borrower’s previous loan had reached maturity and needed to be refinanced. We also cross-collateralized with an office building in Richmond just for additional collateral. The lien on the office building is a second mortgage. The Borrower intends to sell the industrial property to pay off the 1st and 2nd trust deed bridge loan. The combined loan-to-value was 55% and the loan term was one year.