Bridge Loan for Mountain View CA Retail Center

Last week Rubicon Mortgage Fund funded a $1,025,000 private money loan secured by a 7,850 square foot retail property on a half-acre high-traffic lot in Mountain View, California. The borrower is using the funds for the purchase and redevelopment of the property.  The purchase price was $2.6M and Rubicon's 1st position bridge loan was 40% loan-to-cost. The borrower plans to rehab the shopping center property and then refinance. The term of this private mortgage is 1 year.

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