Sacramento, CA

$600,000

Industrial

Refinance

03/31/2016
Transaction by
Rubicon Mortgage Fund, LLC
In March 2016, Rubicon Mortgage Fund financed a $600,000 bridge loan secured by an industrial building in the Richards Boulevard neighborhood of Sacramento, close to Downtown. The Borrower is a Sacramento commercial real estate developer who built this building and 4 others just like it in the same industrial business park back in 2007. The building size is approximately 8,800 square feet and is tenant-occupied. The previous bank loan was coming due and needed to be refinanced. Rubicon paid off the previous lender and quickly provided a new private mortgage. We estimated the value of the property at around $1,000,000 so the LTV (loan-to-value) for this bridge loan was 60%. The Borrower plans to sell the property before the end of the 12-month loan term.