Success Story
An institutional ADU-focused investment group sought financing to refinance an existing property and execute a large-scale infill development, adding 12 new ADU units to an already improved site. The density, construction scope, and reliance on ADU Bonus Program incentives placed the project outside the scope of conventional lenders.
Fidelis Private Fund structured a $4,000,000 first trust deed construction loan to refinance the property and fund the development of a 14-unit multifamily project. The loan is supported by a stabilized value of approximately $6,500,000, resulting in a conservative 62% loan-to-value (LTV). Construction funds are disbursed through third-party fund control, ensuring disciplined execution of the development plan.
The borrower plans to stabilize the property and refinance into permanent multifamily financing upon completion.
Value Added
Fidelis delivered a flexible construction facility to an experienced development sponsor, enabling execution of a high-density infill project within a Transit Priority Area. This transaction highlights Fidelis’ ability to support institutional-quality ADU developments with structured capital and conservative leverage.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.