A repeat client was in escrow to purchase a retail multi-tenant/residential mixed-use property in San Diego that needed to close within two weeks. The buyer intends to occupy a portion of the retail space as an owner-occupied property.
The borrower needed a bridge lender to fund the purchase within two weeks.
Fidelis Private Fund provided the borrower a $680,000 1st Trust Deed purchase loan and cross-collateralized the loan with additional residential property for a combined 65% LTV ratio.
Once the retail space is remodeled and occupied, the exit strategy is to refinance with an SBA loan.
The Fidelis Private Fund helped the borrower capitalize on a great investment opportunity within the short time frame needed. At the same time, making it a smooth and hassle-free loan process.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.