Success Story
A well-established brokerage client who has worked with Fidelis before represented a customer seeking a bridge loan. The purpose of the loan was to renovate and secure new tenants for a multi-tenant industrial office/warehouse complex in San Diego. This property includes three parcels and multiple buildings, with more than 26,000 square feet, and was owned free and clear with no debt.
Fidelis Private Fund provided the borrower with a $850,000 first trust deed refinance loan, secured by a multi-tenant industrial office/warehouse investment property with a conservative market value of over $5,000,000 or a loan-to-value ratio of 17%.
The exit strategy for the borrower is to refinance once the rehab and re-tenanting are complete.
Value Added
By refinancing a free and clear property, Fidelis enabled the borrower to access the necessary funds quickly to rehab and re-tenant the property. This resulted in a smooth and hassle-free loan process.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.