Success Story
An experienced development group sought construction financing to support the ground-up development of a higher-density multifamily project on an infill site. The business plan required a lender capable of funding a substantial build-out, and administering a controlled draw process without the delays or rigidity of conventional financing sources.
Fidelis Private Fund provided a $4,900,000 first trust deed construction loan structured to roll the existing loan balance into a new construction facility and fund the development of a 20-unit multifamily community. Loan proceeds are disbursed through third-party fund control, with holdbacks, interest reserves, and contingency built into the structure to ensure disciplined execution and budget oversight. The stabilized Loan-to-Value (LTV) upon completion is estimated at approximately 59%, reflecting conservative leverage supported by the projected income and completed value.
Upon construction completion and lease-up, the plan is to refinance the project into long-term conventional or agency-backed multifamily financing once stabilized and generating consistent cash flow.
Value Added
Fidelis delivered a flexible and well-structured capital solution that allowed an existing loan to seamlessly transition into full construction financing. By combining speed, certainty, and conservative underwriting, Fidelis supported the creation of new infill housing while maintaining strong collateral protection and clear execution controls.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.