$900,000 Refinance/Cash-out on commercial T.I.C. in San Francisco, CA
Rubicon funded the refinance/cash-out of this 1,800 SF retail unit located on the ground floor of this San Francisco property located in the Lower Haight area. A challenge on this transaction is that the property is held as a T.I.C. – tenants in common. Many lenders are not able to finance transactions that are T.I.C., but Rubicon worked with an outside legal team to customize documents to fit the loan. The downstairs of the property is currently a hair salon, and the exit strategy is to sell the unit to the tenant.
Loan Amount: $900,000
Loan Term: 12 Months
LTV: under 55%
Loan Position: First Deed of Trust
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