Success Story
A seasoned client requested a construction loan to transform a single-family property into a dynamic multi-family investment. The subject property, acquired earlier this year, features a 3-bedroom, 2-bathroom residence on a 9,380 sq. ft. lot. The proposed project involves constructing eight 2-bedroom, 1-bathroom ADUs within four new two-story structures, creating a total of nine units and 5,150 sq. ft. of net rentable area.
Fidelis Private Fund approved a $1,300,000 2nd Trust Deed construction loan commitment, complementing an existing 1st TD of $568,000. The construction loan will be disbursed through fund control on a % of completion basis, resulting in a conservative 64% completed loan-to-value ratio (CLTV).
Exit Strategy
The borrower intends to refinance upon project completion and full lease-up of all units, ensuring long-term profitability.
Value Added
Fidelis Private Fund is proud to support this borrower in realizing the potential of their property through a seamless financing process. By facilitating this transformative project, we continue to help our clients achieve their financial and real estate investment goals.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.