Success Story
Fidelis structured a $4,500,000 first trust deed bridge loan: $3,800,000 funded at acquisition plus a $800,000 holdback for renovation. Against an appraised as-completed value of $6,620,000, the LTV is 68%.
The borrower plans to repay the loan by selling each renovated cottage individually once the lot split is complete.
Value Added
Fidelis underwrote the value created by the lot split, not just the property’s current rental income, and paired it with a holdback it controls and partial releases as each unit sells. That structure let the borrower act on a value-add strategy that conventional lenders aren’t set up to finance.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.