Livermore, CA

$1,800,000

Industrial

Refinance

03/31/2016
Transaction by
Rubicon Mortgage Fund, LLC
In March 2016, Rubicon Mortgage Fund closed a $1.8MM bridge loan secured by an industrial property in Livermore, Alameda County. The Borrower is an online security company that occupies the subject property – 3 commercial condominiums. They needed to cash out equity to use for some operating capital as they gear up for a potential sale. For additional collateral to get the desired cash out needed, we cross-collateralized the homes of the two owners of the business, both located in Livermore. The combined LTV (loan-to-value) with all three properties is 60%. The Borrower found the terms of Rubicon’s bridge loan to be much more competitive than venture capitalists for the money they invested in their business. The Borrower plans to sell the property before the end of the 2-year loan term.