Success Story
Fidelis was approached by a seasoned developer needing to refinance an existing land loan and provide funds to finalize entitlement approvals for a tentative map for a 73-lot residential subdivision located off Highway 67 in Lakeside, California. While land development loans are typically outside Fidelis’s focus, this project stood out due to the low leverage, strong equity, and the developer’s proven track record. The borrower required quick and flexible financing to keep the project moving forward.
Fidelis provided a $2,000,000 1st Trust Deed bridge loan secured by approximately 72.87 acres of RR-zoned land appraised in August 2025, “as is” $5,470,000 or 37% LTV, and with tentative map $7,820,000 or 26% LTV.
The plan is to either sell the entitled lots to a regional homebuilder or refinance the property once full entitlements are obtained. Strong demand for housing in the area provides confidence in both exit paths.
Value Added
Fidelis took a thoughtful approach, recognizing that not every high-quality deal fits a typical profile. The borrower is a seasoned developer and engineer with a long track record of successful real estate projects. His experience and equity in the deal made this a strong fit for Fidelis, even as a land loan. This transaction highlights Fidelis’s ability to adapt and structure solutions aligned with market needs.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.