An owner of several single-family residential adult care facilities needed to close on the purchase of another property located in Escondido, CA. The purchase price was $630,000 for the real estate and $195,000 for the business or a total cost of $825,000.
The borrower was not pushing for high leverage, just trying to find a long term loan at a competitive interest rate that would accept the special-purpose use of the property.
Fidelis Private Fund arranged the $476,250 permanent loan with a lender at competitive pricing considering the use of the property as an adult residential care facility.
The challenge was getting the lowest interest rate possible given the use of the property as a business.
The Fidelis Private Fund helped the borrower arrange a new loan at a competitive interest rate with a lender acceptable with the business as a residential adult care facility.
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 loan 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