$2,400,000 Acquisition in Piedmont, CA
The borrower for this transaction is a current Rubicon Mortgage Fund Investor that needed funding to purchase this non-owner-occupied investment property located in Piedmont. The investor also pledged their investment account with Rubicon as additional collateral in order to make this quick close offer in Piedmont. The intent is to fix up the property and put it back on the market to sell. Part of the loan amount includes a 1-year interest reserve and working capital to fix up the property.
Loan Amount: $2,400,000
Loan Term: 12 Months
LTC: under 65%
Loan Position: First Deed of Trust
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