Berkeley, CA

$980,000

Multifamily

Refinance

04/20/2015
Transaction by
Rubicon Mortgage Fund, LLC
In April 2015, Rubicon Mortgage Fund financed a $980,000 private money bridge loan secured by a 10-unit apartment building in Berkeley, California. The Borrower needed to cash out some equity to make improvements to the building. We estimated the value at around $2,000,000 so the loan-to-value on this 1st trust deed mortgage is 49%. The Borrower plans to refinance within 2 years to pay off this bridge loan. Rubicon has funded many loans for properties in the city of Berkeley over the past 5 years, and we continue to be a valuable funding source for East Bay real estate investors.