Success Story
A repeat client was in escrow to purchase a retail multi-tenant/residential mixed-use property in San Diego that needed to close within two weeks. The buyer intends to occupy a portion of the retail space as an owner-occupied property.
The borrower needed a bridge lender to fund the purchase within two weeks.
Fidelis Action
Fidelis Private Fund provided the borrower a $680,000 1st Trust Deed purchase loan and cross-collateralized the loan with additional residential property for a combined 65% LTV ratio.
Once the retail space is remodeled and occupied, the exit strategy is to refinance with an SBA loan.
Value Added
The Fidelis Private Fund helped the borrower capitalize on a great investment opportunity within the short time frame needed. At the same time, making it a smooth and hassle-free loan process.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.