"Bob Sherrard and his team made it a point to understand not only the real estate at hand, but our business and investment strategy. They structured each loan by taking into consideration what was best for the asset and what was best for our fund and its investors,” said Rubicon Point Partners' President and Managing Partner Ani Vartanian Boladian. “Tech CU was flexible in their approach, creative in their structuring and expedient in their execution. Honestly, we couldn’t have had a better lending partner and we are looking forward to working with them again in the near future."
San Francisco-based Rubicon Point Partners (Rubicon) invests in and manages unique properties throughout the Bay Area. The development group focuses on projects in unused or underutilized areas within urban communities that benefit from a close proximity to mass transit, employment centers, amenities and services.
Tech CU (Technology Credit Union) and Rubicon first partnered in 2012. The credit union funded a commercial real estate (CRE) loan that supported the group’s refinancing of a multi-tenant property in downtown Mountain View (in which Google was the major tenant), as well as a loan to support the purchase of an historic SOMA–located office building in San Francisco.
Rubicon realized there was an opportunity to acquire a multi-tenant building in San Francisco. The city’s highly competitive real estate market meant they needed to move quickly. In addition, the property required some construction in order to reposition it within the market. This needed to be accounted for within the structure of the loan.
Rubicon Point Partners