Success Story
A repeat client required financing for constructing 13 ADUs (Accessory Dwelling Units) as a multi-family project in San Diego. Fidelis Private Fund already had an existing loan in place, which we seamlessly modified to support the construction of this project.
Fidelis Private Fund provided the borrower with a $3,000,000 1st Trust Deed construction loan commitment. This loan will be disbursed through fund control. Upon completion, the subject property’s appraised value was determined to be $5,700,000, resulting in an approximate 53% Loan-to-Value (LTV) ratio.
The exit strategy is to refinance with a conventional loan.
Value Added
The Fidelis Private Fund helped the borrower by modifying an existing loan into a construction loan, resulting in a smooth and hassle-free loan process.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.