Hard Money Loan for the Purchase of a Livermore, CA Retail Shopping Center

Last week Rubicon Mortgage Fund provided a $1,350,000 private money loan secured by a retail shopping center in Livermore, CA. The borrowers are members of an investment group who had already paid a nonrefundable deposit towards the purchase of the building. The borrowers originally planned to buy the building “all cash” when unfortunately one of their members backed out. Rubicon Mortgage Fund was able to facilitate funding in less than one week, and provide the investment group the additional monies they needed to close the deal. The center is 51,207 square foot situated on a 5.57 acre site and is currently vacant. The LTC (loan-to-cost) on this 1st Deed of Trust loan is 27% loan to cost with a one year loan term.