A client needed a construction loan to build 17 apartment units in Lemon Grove, CA. The borrower needed a lender to provide a higher leveraged loan than the typical institutional lender would provide or approximately 80% loan to cost.
This loan was not a fit for Fidelis Private Fund. However, from our extensive network of lender relationships, we found a non-conventional lender that would provide the leverage required by the borrower to complete the project.
Fidelis Private Fund arranged a 1st Trust Deed construction loan for $5,522,000 or 62% LTV at stabilized occupancy. (Fidelis arranged the loan and acted as the broker on the transaction)
The Fidelis Private Fund helped the borrower arrange a higher leveraged construction loan and reduced the cash equity required to construct the project.
Our goal is complete customer satisfaction, and if the loan request doesn’t fit Fidelis Private Fund as a direct lender, we find the right lender with the best loan terms for the borrower.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.