Success Story
An existing Fidelis borrower sought financing to refinance a recently acquired multifamily property and fund a comprehensive rehabilitation program. The six-unit property is currently vacant and requires significant improvements before it can be returned to productive use. Traditional lenders were unwilling to finance a property in its current condition, creating a need for a flexible bridge lender capable of funding both the refinance and future renovation costs.
Fidelis Private Fund provided a $1,530,000 1st trust deed refinance and rehabilitation loan secured by the six-unit property. Fidelis previously financed the acquisition of the asset and is now supporting the next phase of the business plan through a structured renovation facility.
Based on the proposed as-complete valuation, the loan is structured at approximately 34% Loan-to-Value (LTV), providing substantial collateral protection throughout the rehabilitation process.
The exit strategy is a refinance with a conventional loan.
Value Added
Fidelis provided the bridge and rehabilitation capital necessary to execute the business plan. By combining conservative leverage, structured future funding, and construction oversight, Fidelis enabled the repositioning of a vacant and underutilized asset into quality coastal rental housing.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.