San Jose, CA

$1,575,000

Retail

Purchase

08/08/2017
Transaction by
Rubicon Mortgage Fund, LLC
Borrower was tenant in a commercial retail building for over 10 years. Owner of the building wanted to sell structure and tenant had first right of refusal. Buyer came in and tenant matched the offer but needed Rubicon's private money loan to complete transaction. RMF funded $1.575M bridge loan and cross collateralized with a single family residence - all in San Jose. Loan position is 1st Deed of Trust, 6 months term and Loan to Value is 60%.