Success Story
A referred client was seeking a reliable construction lender to fund the construction of five accessory dwelling units (ADU) in three detached buildings on a property in San Diego, CA. The project also incorporates a newly remodeled single-family residence, bringing the total to six multi-family units upon completion.
Fidelis Private Fund provided a $1,900,000 first trust deed construction loan. The funds from this loan will be managed and disbursed on a percentage-of-completion basis through fund control. The property was appraised at $3,350,000 upon project completion and stabilization, or a 57% loan-to-value (LTV) ratio.
Value Added
The Fidelis Private Fund helped the borrower by performing with a competitive private money 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.