Success Story
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Repeat clients, experienced real estate investors, needed fast acquisition and rehab financing for a distressed 12-unit apartment building in San Diego, roughly half vacant and the remainder leased at below-market rents.
Fidelis structured a $2,400,000 first trust deed purchase-bridge loan against a $3,000,000 roughly 67% loan-to-cost, with leverage projected to decline to approximately 47% of stabilized value upon completion.
The borrower plans to refinance into permanent financing following renovation and lease-up at market rents.
Value Added
Fidelis moved quickly to fund a distressed, partially vacant property requiring immediate capital and a clear renovation plan, drawing on its relationship with a repeat sponsor group. Conservative, collateral-first underwriting allowed Fidelis to capitalize a compelling value-add opportunity that conventional lenders could not accommodate.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.