We received a purchase loan request through a broker relationship for a four acre improved land parcel in Otay Mesa, San Diego, along the border. It was an owner-user acquisition.
The loan request was too large for Fidelis to fund as a direct lender, so we arranged the loan with another third-party lender from our extensive database of lender relationships.
Fidelis Private Fund arranged a 1st Trust Deed purchase bridge loan for $2,000,000 or 48% LTV.
The subject loan was a private money loan, short-term bridge loan, interest only. (The subject loan was not funded by Fidelis, but arranged by Cornerstone Commercial Mortgage acting as a co-broker on the transaction)
The Fidelis Private Fund helped the borrower arrange a bridge loan for a commercial Land parcel in a matter of weeks allowing the buyer to acquire the property that had multiple backup offers.
Our goal is complete customer satisfaction, and if the loan request doesn’t fit Fidelis Private Fund as a direct lender, we find the right lender with the best loan terms for the borrower.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.