A borrower had an opportunity to purchase a commercial investment property located in Lakeside, CA, at an excellent price and needed to close fast.
The purchase price was $325,000 or 60% LTV. The borrower already had a tenant ready to rent the space.
Fidelis Private Fund provided the borrower a $195,000 short-term 1st Trust Deed purchase loan.
The exit strategy is to pay off the loan with borrower cash flow within 6 months.
The Fidelis Private Fund helped our client purchase a commercial investment property at a great price that needed to close fast. At the same time, we made it a smooth and hassle-free process for the borrower.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.