Success Story
A repeat client was nearing completion on a 5,000 sq. ft. commercial remodel fully pre-leased to a preschool tenant on a 10-year NNN lease. However, the borrower required quick funding to cover final construction costs. The challenge was finding a lender who could fund based on the strong leasing and near-complete condition but without a certificate of occupancy.
Fidelis Private Fund provided a $1,325,000 1st Trust Deed bridge loan to refinance existing debt and cover final construction costs. With the project already substantially complete and pre-leased, the risk was low. The tenant is under contract to purchase the property for over $2.3 million or 58% LTV ratio.
The borrower intends to sell the property to the tenant as an owner-occupied property.
Value Added
Fidelis demonstrated its ability to evaluate real risk rather than follow rigid criteria. Recognizing the lease strength and project status, Fidelis acted quickly to provide funding when others would not—offering the borrower a practical and timely solution.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.