An experienced real estate investor and repeat client of Fidelis Private Fund needed a cash-out refinance long term loan on an existing 17 unit apartment in Pacific Beach. The borrower wanted a conventional lender at the lowest interest rate possible.
The challenge was the 17 units were master leased by one tenant providing housing for their clients. The borrower needed to buy out a partner and at the same time, capitalize on today’s low-interest rates to improve the property’s net cash flow.
Fidelis Private Fund arranged the $3,440,000 permanent loan with a local credit union at a competitive 4% interest rate and 65% loan to value.
The Fidelis Private Fund helped the borrower arrange a cash-out refinance on a master leased apartment at an excellent interest rate with a local conventional lender.
Our goal is complete customer satisfaction, and if the loan request doesn’t fit Fidelis Private Fund as a direct lender, we will still help the client by assisting in whatever is needed. In this case, we tapped our extended lender resources to arrange an excellent long term loan accomplishing what the client was looking for.
Another transaction where Fidelis Private Fund is helping our client achieve their financial goal.
Deal FPF 10022