PURCHASE IN PITTSBURG, CALIFORNIA
Loan secured by a total of 6 industrial condominium’s which were cross collateralized with a house in Pittsburg. With help from Rubicon, this repeat borrower made an all cash offer on a fully developed and leased out office building in Pittsburg, California.
Loan Amount: $850,000 (plus an additional $300,000 modification from a previous loan) for a total of $1,150,000
Loan Position: 1st Deed of Trust
Loan Term: Five Years
CLTV: Less than 50%