Success Story
A repeat Fidelis borrower and experienced San Diego residential developer needed construction financing to execute a value-add infill project in the North Park neighborhood. The project combined renovation of an existing single-family residence with ground-up construction of new loft-style units,
Fidelis Private Fund structured a $1,300,000 first trust deed construction loan with a conservative after completion value of $2,000,000 or a 65% LTV ratio.
The borrower’s exit strategy is to refinance into permanent financing upon project completion and stabilization.
Value Added
Fidelis delivered a single, flexible construction facility covering acquisition debt retirement, renovation, and ground-up construction. This transaction demonstrates Fidelis Private Fund’s ability to support experienced developers with creative, relationship-driven capital that moves at the speed the deal requires.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.