Success Story
An experienced real estate developer/repeat client was in escrow to purchase an entitled and improved commercial land parcel for $3,150,000 in Cota de Caza, CA, a community east of Mission Viejo in Orange County. The borrower plans to construct approximately 18,000 sq.ft. of commercial space in three buildings. The three buildings are essentially 100% preleased and scheduled to start construction early 2020. Fidelis Private Fund, as lead lender, participated $750,000 of the $1,500,000 1st Trust Deed loan commitment at a 48% LTV. The exit strategy is a construction loan that Fidelis Private Fund will arrange with a conventional construction lender.
Fidelis Action
Fidelis Private Fund, as lead lender, participated $750,000 of the $1,500,000 1st Trust Deed loan commitment at a 48% LTV.
Value Added
The Fidelis Private Fund loan helped the borrower acquire an essentially 100% preleased proposed commercial project with an experienced developer and repeat client.
Another transaction where Fidelis Private Fund is helping our client achieve their financial goal.