Updated Dec 4, 2024
Rubicon Mortgage Fund Provides $11 Million Refinance Loan For Office Building In Pleasanton
Las Positas Blvd & 1305 Rollins Road
$11,000,000
$51/SF
Building Size
106,000 SF
Asset Type
Office
Closing
Aug 27, 2024
About this deal
AI
This transaction involves a 106,000-square-foot office building located at Las Positas Blvd & 1305 Rollins Road, situated in the Pleasanton and Burlingame markets. The property is classified as Class B and is currently at 50% occupancy. The refinancing deal was secured for an amount of $11,000,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $11,000,000
- Loan Type: Refinance
- Loan Terms: 12 Months
- Lender: Casey Hopkins - Rubicon Mortgage Fund
- Broker: David Bruni - Slatt Capital
- Asset Square Footage: 106,000
- Property Address: Las Positas Blvd & 1305 Rollins Road
- Market: Pleasanton & Burlingame
Casey Hopkins from Rubicon Mortgage Fund facilitated the loan, showcasing the lender's capability to manage complex refinancing situations amid market challenges. The borrowers, two brothers with extensive real estate interests, were in a time-sensitive situation needing to address a $13 million obligation due on the property.
On the Map
$11,000,000
$51/SF
Office
View full map
Players
Pleasanton Office Market Snapshot
Boundary boundary · Office · Loan transactions
Loading comparables…
Deal FAQ
Visit David Bruni to view all their deals.
Browse Pleasanton office loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93