A repeat borrower needed to refinance a loan that matured and consolidate debt on the property. The loan was secured by a multi-tenant retail property in Chula Vista, CA.
This 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 refinance bridge loan for $3,100,000 or 58% 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 the broker on the transaction)
The Fidelis Private Fund helped the borrower arrange a bridge loan for a commercial multi-tenant retail property allowing the borrower to consolidate some debt.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.