Success Story
A borrower with a proven track record of developing successful real estate projects in San Diego needed a construction loan to develop a multi-family project.
Fidelis provided a $1,980,000 1st Trust Deed loan to develop a six-unit multi-family residential project that includes a single-family residence and up to five ADUs. The appraised value at completion was $3,300,000, or 60% LTV ratio.
Exit Strategy
The borrower plans to stabilize the property by leasing the units and refinancing or selling the asset.
Value Added
Fidelis delivered a flexible and efficient financing solution, refinancing an existing lien and providing funds for construction completion. This transaction showcases Fidelis’ expertise in supporting innovative multi-family development projects in high-demand markets.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.